Panasonic: Tesla will be fully operational in China in the future, and we can jointly produce lithium batteries
According to foreign media reports, the Nikkei Asian Review reported on Thursday that some Panasonic executives have hesitated to join forces with Tesla to make new investments in battery manufacturing.
Tesla and Panasonic are expected to jointly establish a new factory in China, and the two companies will produce electric vehicles and lithium-ion batteries under the same roof. At Tesla's Gigafactory 1, located in Nevada, Tesla and Panasonic have already conducted similar cooperation. Kazuhiro Tsugachi, CEO of Matsushita, acknowledged on Thursday’s earnings conference call that “Tesla will be fully operational in China in the future and we can jointly produce lithium batteries.”
Tesla CEO Elon Musk said in an earnings conference call earlier this month that the company plans to announce the location of the Chinese factory as soon as the third quarter of this year, preparing batteries and small batteries in China. Cross-boundary vehicle Model Y. After the Chinese government announced last month the lifting of the upper limit on the foreign investor's shareholding in the electric vehicle and mixed-sports vehicles, Tesla began to consider building a manufacturing plant in China. Musk stated that Tesla’s future factory will produce batteries and assemble electric vehicles.
Musk had previously stated that Tesla will manufacture Model 3 and Model Y electric vehicles in China in the future, but will not manufacture Model S and Model X at high prices. He said in November last year that Tesla had been manufacturing electric cars in China for about three years. Tesla sold 14,883 electric vehicles in the Chinese market last year. It has a 3% share of the electric vehicle market in China, ranking tenth in the market.
However, according to a report in the Nikkei Asia Review, some anonymous Panasonic executives published comments that were completely different from the expression of the style of Ichiro Kazuhiro. They stated that Panasonic’s cooperation plan with Tesla “has not yet been staunched.” “And nothing is immutable.” The Nikkei Asian Review pointed out that Panasonic had ended March 31 due to the delay in the production of the Model 3 target. Japan’s operating profit in the previous fiscal year was reduced by approximately 20 billion yen (approximately US$183 million). In addition, Anonymous Panasonic executives expressed their concerns about Mr. Musk’s recent rude treatment of Wall Street analysts in earnings reports.
When Panasonic became the exclusive battery supplier for Tesla Model S, Model X and Model 3, their partnership was considered to be a victory for rivals--China's battery maker Ningde Times and South Korea's LG--.
After Panasonic and Tesla jointly built a super battery plant in 2014, some battery suppliers, including Bosch, have already withdrawn from the electric vehicle battery production business. At present, Panasonic is working together with Toyota Motor to develop electric vehicle batteries.
In the past year, the production of Model 3 batteries and electric vehicles has been plaguing Tesla. Up to now, Panasonic and Tesla have not commented on the relationship between the two companies and their future cooperation plans.
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