Panasonic's battery unit Q3 operating profit rises 39% from a year earlier

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TOKYO : Japan's Panasonic Holdings said on Thursday the third-quarter operating profit of its energy unit, which supplies batteries to Tesla, rose 39 per cent from a year earlier on improved profitability at its U.S.plant and stronger sales of energy storage systems.

FILE PHOTO: The Panasonic booth is shown during the 2020 CES in Las Vegas, Nevada, U.S.January 7, 2020.

Operating income for the key segment increased to 42 billion yen ($270.46 million) as the better profitability at its U.S.plant helped offset an overall decline in sales in its in-vehicle business, it said in presentation materials.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Sales Operating Mediacorp Energy Profitability File Panasonic Photo: Plant Experience 2020

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Article Type: News Report

Published On: 2025-02-04 @ 14:52:15 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

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