financetom
Business
financetom
/
Business
/
Tesla supplier Panasonic Energy: cutting China supply 'No.1 objective' for U.S
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Tesla supplier Panasonic Energy: cutting China supply 'No.1 objective' for U.S
Jan 6, 2025 8:40 PM

LAS VEGAS (Reuters) - Tesla supplier Panasonic Energy plans to eliminate its supply-chain dependence on China for electric vehicle batteries made in the United States, a senior executive told Reuters, calling the shift a "No.1 objective".

The comments from Allan Swan, President of Panasonic Energy of North America, highlight how incoming President Donald Trump's pledge to raise tariff imports on Chinese goods has forced companies around the world to reassess their manufacturing processes.

Panasonic Energy, which supplies batteries to Tesla as well as other automakers, is a unit of Japanese electronics giant Panasonic ( PCRFF ).

The first thing the business has to do in regards to Trump tariffs is "not to have the supply chain dedicated from China," Swan told Reuters in an interview in Las Vegas on Monday at the CES trade show.

In the United States, Panasonic Energy operates a plant in Nevada and plans to open a second U.S. factory in Kansas this year.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Cisco Systems Completes $28 Billion Acquisition of Splunk
Cisco Systems Completes $28 Billion Acquisition of Splunk
Mar 18, 2024
11:04 AM EDT, 03/18/2024 (MT Newswires) -- Cisco Systems ( CSCO ) said Monday it has completed the acquisition of software company Splunk for $157 per share in cash or about $28 billion in equity value. The company said it expects the deal to be cash flow positive and non-GAAP gross margin accretive in its fiscal year 2025 and non-GAAP...
Perspective Therapeutics, Bristol-Myers Squibb Collaborate on Melanoma Combination Study
Perspective Therapeutics, Bristol-Myers Squibb Collaborate on Melanoma Combination Study
Mar 18, 2024
11:06 AM EDT, 03/18/2024 (MT Newswires) -- Perspective Therapeutics ( CATX ) said Monday that it has entered into a clinical trial collaboration agreement with Bristol-Myers Squibb ( BMY ) for a melanoma combination study. The study will assess the safety and tolerability of Perspective's targeted alpha-particle therapy plus Bristol-Myers' nivolumab in patients with histologically confirmed melanoma and positive melanocortin...
Tellurian CEO Octavio Simoes to Move Into Advisory Role; Company to Explore Possible Sale -- Shares Fall
Tellurian CEO Octavio Simoes to Move Into Advisory Role; Company to Explore Possible Sale -- Shares Fall
Mar 18, 2024
11:07 AM EDT, 03/18/2024 (MT Newswires) -- Tellurian (TELL) said Monday that Chief Executive Octavio Simoes will transition to an advisory role before retiring in June. The company named president of Driftwood assets, Samik Mukherjee, as president of Tellurian Investments. Mukherjee and President Daniel Belhumeur will jointly manage Tellurian's commercial activities, the company said. Meanwhile, Tellurian said in a filing...
--CareTrust REIT Raises Quarterly Dividend $0.01 to $0.29 a Share, Payable April 15 to Stockholders of Record March 28
--CareTrust REIT Raises Quarterly Dividend $0.01 to $0.29 a Share, Payable April 15 to Stockholders of Record March 28
Mar 18, 2024
11:03 AM EDT, 03/18/2024 (MT Newswires) -- Price: 23.80, Change: +0.32, Percent Change: +1.36 ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved