The outgoing CEO says Panasonic needs to reduce reliance on Tesla as the battery bond evolves -FT

Panasonic Corp’s outgoing CEO Kazuhiro Tsuga said the company will need to reduce its heavy reliance on Tesla Inc by making batteries more compatible with electric vehicles. from other global automakers, the Financial Times reported Sunday. “At some point, we have to graduate from our unique approach of relying solely on Tesla “, Tsuga, who will step down after nine years as CEO from April 1, he told the newspaper in an interview.

“We are entering a different phase and we need to keep an eye on suppliers from suppliers other than Tesla.” The Japanese conglomerate announced in November that Tsuga would step down in April after nine years at the helm and that Yuki Kusumi, the head of its auto business, would take over.

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Under Tsuga’s leadership, Panasonic has shifted its focus from low margin consumer electronics for batteries, factory machines and components. The company said last month that it expects its battery supply business to Tesla to be profitable this fiscal year. Panasonic has partnered with Tesla in a $ 5 billion battery “gigafactory” near Reno, Nevada.

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News Highlights:

  • Panasonic Corp’s outgoing CEO Kazuhiro Tsuga said the company will need to reduce its heavy reliance on Tesla Inc by making batteries more compatible with electric vehicles. from other global automakers, the Financial Times reported Sunday. Panasonic has partnered with Tesla in a $ 5 billion battery “gigafactory” near Reno, Nevada.
  • The outgoing CEO says Panasonic needs to reduce reliance on Tesla as the battery bond evolves -FT