Panasonic

Japan's Panasonic energy unit finalises prep for 4680 EV battery production

The bigger 4680 cells will allow automakers to extend the driving range of electric vehicles and use fewer cells to achieve the same battery pack capacity, Panasonic Energy said in a statement

Panasonic Energy India Q1 results: Net profit grows to Rs 4.14 cr

Panasonic Energy India Company Ltd (PECIN) on Monday reported a profit after tax of Rs 4.14 crore in June quarter, up from Rs 2.59 crore in the year-ago period. The company' total income fell to Rs 64.18 crore in the first quarter of this fiscal from Rs 77.48 crore in the April-June period of preceding 2023-24 financial year, Panasonic Energy India said in an exchange filing. During the reporting quarter, the company reduced expenses to Rs 58.55 crore from Rs 74.02 crore in the three-month period a year ago. In a separate statement, Akinori Isomura, Chairman and Managing Director, PECIN, said, "Last two years have charted a turnaround story for company's operations and we have been reporting a consistent growth in profit. The slight dip in revenue this quarter is on account of a large B2B one time order that we won last year, so if we look at the overall sales growth in insolation of this order, we have recorded a 7 per cent growth." Part of Panasonic Holdings Corporation, Panasoni

AC sales may touch new record of 14 mn units by end of 2024: CEAMA

The blistering heatwave this year has skyrocketed the demand for room air-conditioners across the country, expecting a record annual sale of around 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association. The industry had "record-breaking figures" for sales of air-conditioners in May and expects a surge of 30 to 40 per cent in volume growth in summers alone, Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani told PTI. Soaring temperatures and heat waves have now made AC a "quintessential requirement" for households across urban areas, he said. The Indian AC market is also evolving helped by energy-efficient models that are suitable across income brackets and by investment by the companies in indigenous manufacturing units of components. "As the market evolves, we expect annual sales volumes to be around 14 million units, highlighting the sector's robust expansion," Vachani said. The Indian resident

Panasonic to form JV with IOCL to make cylindrical lithium-ion batteries

Panasonic Group will form a joint venture with Indian Oil Corporation Ltd (IOCL), the nation's biggest oil firm, to manufacture cylindrical lithium-ion batteries. Panasonic Energy Co Ltd, a group firm of Japan-based multinational electronics company, has signed a binding term sheet and initiated discussions with IOCL "to draw a framework for the formation of a joint venture" to manufacture cylindrical lithium-ion batteries, said a statement on Sunday. "This initiative is driven by the anticipated expansion of demand for batteries for two- and three-wheel vehicles and energy storage systems in the Indian market," it added. Cylindrical lithium-ion batteries are commonly used in consumer electronics, power tools, and electric vehicles. Panasonic Energy is a maker of automotive lithium-ion batteries. The two companies are engaging in a feasibility study regarding the utilisation of battery technology to facilitate the transition to clean energy in India, the statement said. The compan

Panasonic to sell entire stake in autos biz to Apollo Global Management

Panasonic said it will also acquire a 20% stake in Star Japan Holdings, the company which will own the new parent company of PAS

GM, Panasonic sign investment deals with Canadian graphite producer

GM and Panasonic have each committed to purchase 18,000 metric tons of active anode material annually over a period of six to seven years, Nouveau Monde Graphite said in a statement Thursday

Panasonic unveils smart, IoT powered models across inverter AC range

Panasonic on Monday launched its 2024 line-up of air conditioners, with 60 new models mostly across inverter AC range. This also includes India's first matter-enabled room ACs, powered by its IoT platform Miraie, a statement from Panasonic Life Solutions India (PLSIND) said. A matter-enabled device can be set up in a few seconds, connecting it to customer's network, smart speakers, ACs. We developed and manufactured our new range of ACs, keeping the evolving needs of our consumers in mind. The new line-up of ACs, comprising India's first matter-enabled RACs will not only provide inter-operability but, is also simple to use, reliable and secure," said Managing Director Fumiyasu Fujimori. PLSIND is a subsidiary of Japan's Panasonic Holdings Corporation.

PLI scheme for ACs game changer for industry: Panasonic Life Solutions

The Production Linked Incentive (PLI) Scheme for the air-conditioner industry is proving to be a "game changer" as within a year and a half of its launch, the ratio of domestic value addition has gone up significantly to 45 per cent from 25 per cent, a top Panasonic Life Solutions India official has said. The sole objective of the PLI scheme for air-conditioners was to increase the value addition to 75 per cent from 25 per cent by FY28 by encouraging the domestic production of components, Chairman of Panasonic Life Solutions India and South Asia Manish Sharma said. "A jump from 25 to 45 has happened just in about more than a year. So, that is the change, which is happening, and that is why I feel that the PLI has been a game changer, specifically in the air conditioners industry," Sharma, who also heads the Electronics Manufacturing Committee of industry body Ficci, told PTI. Investments in heat exchangers, compressors and other components, which are part of the PLI scheme for ...

Panasonic Electric eyes 50% share in India's wiring devices mkt by 2030

Panasonic Electric Works India (PEWIN) -- a subsidiary of Panasonic Life Solutions -- aims to capture 50 per cent market share of India's wiring devices market by 2030, a top company official said. "Over the next five years, our focus in India will be on significantly expanding our market share," Toshinobu Kawasaki, Joint Managing Director, Panasonic Electric Works India, told PTI. "Specifically, by 2030, we aim to capture a 50 per cent market share in the wiring device business," he said. "We are also targeting substantial growth in our core business areas, such as switchgear and lighting. This ambitious plan reflects our commitment to strengthening our position in the market and continuing to deliver quality and innovation in these key segments," Kawasaki said. Wiring devices include products such as switches, plugs, lighting control devices, time switches, and provide connection points for outlets, lighting, and appliances to save energy and manage power. Asked if the company i

Panasonic eyes double-digit growth in FY25, sees India as export hub

Panasonic expects a "double-digit" growth in the Indian market this fiscal while the company prepares to tap the long-term potential of the country by bringing high-tech products, besides making it an export hub. India is among three important regions for firm headquartered in Osaka, Japan, and it is in the process of building and bringing many more products and high-tech solutions which did not exist in the past in this country, said Chairman of Panasonic Life Solutions India and South Asia Manish Sharma. Panasonic Corporation is "heavily committed" to the Indian market as its "long-term potential is very high" because of a lower penetration of products in the country, providing enough space to grow, he said. The company is working on India-specific innovations for its business verticals such as consumer appliances, electric boxes (wire and wiring devise), supply chain where it provides smart factory solutions, industrial devices and energy business in which it is offering ...

Panasonic will invest another Rs 300 crore in Andhra facility by 2026

Panasonic Electric Works India (PEWIN) will invest another Rs 300 crore to increase capacity at its unit in Sri City, Andhra Pradesh, company officials said on Friday. The Japanese company is looking to use the facility for exports and will primarily target the Middle East and African markets, they told reporters here. "We have invested Rs 300 crore as part of the first phase of the project, and will be investing another Rs 300 crore by 2026," PEWIN Director for power business unit, Rajesh Nandwani, said. At present, the overall production capacity of the company, which operates plants in Daman and Haridwar as well, is 62 crore pieces per year, which will grow to 70 crore by 2025 and 100 crore by 2030, Nandwani said. The company produces various products such as switches and switchboards. PEWIN Managing Director Yoshiyuki Kato said the company's revenues stood at Rs 5,100 crore in FY23, and is aiming to increase it three times by 2030 because of the opportunities it sees ...

Tesla battery supplier Panasonic in talks to set up plant in India

The carmaker has asked its other battery suppliers also to initiate talks for hubs

Panasonic Life Solutions aims to achieve14% revenue growth in FY24

Appliance and consumer electronics maker Panasonic Life Solutions aims to achieve a 14 per cent revenue growth in FY24, led by its large appliances, according to the company's chairman, India and South Asia, Manish Sharma. The company is expecting to close the current financial year with a revenue of Rs 11,000 crore and double-digit growth, he said. Besides, the company is also expanding its product portfolio in large appliances like refrigerators, room air conditioners and some other segments such as cameras. "Overall we are doing well. We are having double-digit growth in terms of revenue. We might end this financial year close to Rs 11,000 crore," said Sharma. This is putting all the three verticals of Panasonic in India -- appliances, B2B and switch and wire businesses (Anchor) -- besides other small entities, he said. When asked about the next fiscal, Sharma said: "We are again targeting double-digit growth between 13 per cent and 14 per cent. This would largely be led by vo

Panasonic launches its first fully rugged laptop TOUGHBOOK 40 in India

Called 'TOUGHBOOK 40', the device offers 'backlit power button and keyboard icons' for easier night viewing in low-light environments

Employees trickle back into changed office spaces as Covid-19 cases decline

As India Inc gets back to office, employers are tweaking work spaces and using innovative solutions to tackle new concepts

Panasonic to mass produce next-gen batteries for Tesla in 2023: Report

The Japanese company reportedly plans to invest about $705 million in production facilities to make the new batteries for Tesla from as early as 2023

Mercedes, BMW, IBM, Panasonic to skip in-person events at CES 2022

BMW, IBM, Panasonic, and Mercedes have joined the growing list of tech companies who have decided not to attend the 'CES 2022' in-person in Las Vegas

Panasonic India expands ESL and Digital SignEdge business

These tech-enabled display solutions have been designed to increase operational efficiencies for retailers and enterprises

Panasonic confirms network illegally accessed, probing cyber attack

It was reported that the attacked servers stored information about Panasonic business partners and the company's technology

Panasonic India aims 10% growth, top-line of Rs 9,600 crore in FY22

The company is already back to the pre-pandemic level in terms of revenue and volume