Archive for the ‘panasonic’ Category

Tesla’s profitable quarter didn’t translate for Panasonic

October 31st, 2018
A Tesla with Panasonic batteries

Enlarge / Visitors inspect a Tesla Co. Model X electric automobile, fitted with Panasonic batteries, on the Panasonic Corp. exhibition stand at the IFA Consumer electronics show in Berlin, Germany, on Friday, Sept. 1, 2017. (credit: Krisztian Bocsi/Bloomberg via Getty Images)

In the third quarter of 2018, Panasonic lost $65 million in the branch of the business that makes battery cells to power Tesla's electric vehicles, according to The Wall Street Journal. The company said it had to add production and hire workers more quickly than expected as Tesla aggressively ramped up to producing 4,300 Model 3 vehicles a week.

In September, the head of Panasonic's Automotive Division said that the company was on track to complete three new production lines at Tesla's Gigafactory in Sparks, Nevada, by the end of the year. That would bring the total number of battery-cell-producing lines at the Gigafactory up to 13.

The Model 3 ramp up that ate into Panasonic's bottom line didn't have the same effect on Tesla, which posted its first profitable quarter in several quarters last week. It shares soared.

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More than infotainment: Panasonic on self-driving cars and Tesla’s battery factory

April 29th, 2016

(credit: Getty Images|Akio Kon/Bloomberg )

Everyone wants a slice of the self-driving car market, and we can now add electronics giant Panasonic to that list. Tom Gebhardt, head of Panasonic’s US automotive division spelled out the company’s plans in an interview with Automotive News. He said that Panasonic has ideas about the way we interact with autonomous cars, which the company will develop out of its expertise with infotainment systems.

The company is also working closely with Tesla on the battery “Gigafactory” in Nevada, which will be key to Tesla’s ability to deliver almost 400,000 Model 3 electric vehicles to those in that gigantic queue of preorders. Gebhardt wasn’t able to put a number on Panasonic’s contribution to the factory—apparently that’s down to Tesla—but he said that the company would “do what we need to do to assure supply.”

As we’ve discussed previously, government regulators and the auto industry are hoping for great things from autonomous vehicle technology. In the US, the National Highway Traffic Safety Administration is extremely bullish on self-driving cars, which it sees as the answer to reducing the 33,000 deaths on US roads each year.

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