Panasonic has two battery plants in North America and faces production and performance challenges

Panasonic has two battery factories in North America, one is a joint venture with Tesla, Gigafactory 1, located in Nevada, with an annual production capacity of 40GWh; the other is located in DeSoto, Kansas, with an estimated investment of about US$4 billion and an annual production capacity of 30GWh. However, Panasonic faces production and performance challenges, with a slight decline in turnover and a sharp drop in net profit in fiscal 2024.