Panasonic Energy Reduces China Supply Dependence

Panasonic Energy is prioritizing the reduction of its reliance on Chinese supply chains for electric vehicle batteries in the U.S., a response to anticipated tariffs from incoming President Donald Trump. Allan Swan, President of Panasonic Energy of North America, emphasized that avoiding a supply chain heavily dependent on China is the company's 'No. 1 objective'. The firm currently operates a factory in Nevada and is set to open another in Kansas, aiming to enhance domestic sourcing and mitigate risks associated with trade uncertainties. This strategic shift aligns with a broader trend among global companies reassessing their manufacturing strategies in light of changing trade policies. Panasonic Energy, a key supplier to Tesla and other automakers, seeks to navigate the competitive landscape of the EV market, especially as Chinese automakers intensify competition. Overall, the move reflects Panasonic's commitment to adapt to the evolving geopolitical and economic environment.