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 >
US FTC says it will require Synopsys, Ansys to divest certain assets to resolve merger concerns
US FTC says it will require Synopsys, Ansys to divest certain assets to resolve merger concerns
May 28, 2025
WASHINGTON, May 28 (Reuters) - The U.S. Federal Trade Commission said on Wednesday it will require two software companies -Synopsys ( SNPS ) and Ansys ( ANSS )- to divest certain assets to resolve antitrust concerns surrounding their $35 billion merger. (Reporting by Jasper Ward; editing by Costas Pitas) ...
US cancels more than $700 million funding for Moderna bird flu vaccine
US cancels more than $700 million funding for Moderna bird flu vaccine
May 28, 2025
May 28 (Reuters) - The Trump administration has canceled a contract awarded to Moderna ( MRNA ) for the late-stage development of its bird flu vaccine for humans, as well as the right to purchase shots, the drugmaker announced on Wednesday. Shares of Moderna ( MRNA ) were flat in after-market trading. Moderna ( MRNA ) in January was awarded...
Victoria's Secret pulls down website amid security incident
Victoria's Secret pulls down website amid security incident
May 28, 2025
By AJ Vicens DETROIT (Reuters) -Clothing and lingerie retailer Victoria's Secret suspended most of the functionality of its website and some in-store services to address a security incident, according to a statement posted to the company's website on Wednesday. We identified and are taking steps to address a security incident, a Victoria's Secret spokesperson told Reuters in an email on...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved