Panasonic will actively pursue growth in both the US and China as the Tesla supplier bolsters cash management to navigate the headwinds of the technology dispute between the world’s two largest economies.
In an interview with the Financial Times, chief executive Yuki Kusumi said the Japanese conglomerate would also conduct a review to streamline its vast business portfolio, which spans car batteries, air conditioners and microwave ovens, after two years of trying to make its operations more nimble and cost-efficient.
“It is true that the decoupling of the US and China is becoming a bigger challenge for us,” Kusumi said, adding that the company was studying ways to produce more car battery materials in the US that have previously been procured in China.