Panasonic will step up large-scale investments to meet rapidly growing demand, Kusumi said, adding that the company sees the North American EV market growing at an average rate of 35 percent a year from 2021 to 2030.
The electronics group had previously said it planned to spend some ¥600 billion ($4.4 billion) over the three years to March 2025 on strategic investments. The bulk of that will go to ramping up the Kansas plant, Kusumi said. No decision has been made on where Panasonic will build its next factory, Kusumi said.
Panasonic, whose products span home appliances, entertainment systems and factory automation, also said it is setting up research centers in Osaka to develop next-generation batteries as well as new manufacturing processes.
