Panasonic targets AI growth as EV battery earnings fall

Panasonic aims for 750 billion yen in profit by 2029 by focusing on AI infrastructure. This comes as its electric vehicle battery unit missed annual targets.

Xurve View
Insights:

PANASONIC HOLDINGS CORP targets 750 billion yen in adjusted operating profit by March 2029, fueled by AI infrastructure growth. The goal includes a 130-billion-yen boost from AI, offsetting recent weakness in its electric-vehicle battery division. Investors are weighing the pivot toward data centers as EV demand volatility impacts its primary supply deal with TESLA INC.

Most AI-linked profit will come from the energy and industry segments, the group said in strategy materials released midday Tuesday. Panasonic Energy has started shipping battery cells for data centers in Japan and decided to introduce a dedicated production line for these cells at its plant in Kansas.

IUX24

IUX24 AI-powered financial news and market intelligence. Think and act like smart money.

IFZA Properties, Dubai Silicon Oasis, DSO-IFZA, Dubai, United Arab Emirates

Copyright IUX24 MEDIA - FZCO. All rights reserved.

Powered by AI • Made with precision

IUX24 is an information and analytics platform providing news, market data, analytical tools, and AI-powered features for informational and educational purposes. The Services and information provided do not constitute investment advice, trading signals, or brokerage services. Investing involves risk, and Users should carefully evaluate information before making investment decisions.