TOKYO (Reuters) -Japan's Panasonic Holdings on Monday cut the operating profit forecast for its energy unit that makes automotive batteries by 15%, as it...
TOKYO -Japan's Panasonic Holdings on Monday cut the operating profit forecast for its energy unit that makes automotive batteries by 15%, as it warned of slowing demand for high-end electric vehicles in North America.
Panasonic lowered its full-year operating profit forecast for the energy unit that makes batteries for Tesla and other automakers to 115 billion yen from 135 billion yen. The battery unit's production in Japan suffered from slowing uptake for high-end EVs in North America, Panasonic said in a presentation posted on its website, as the U.S. Inflation Reduction Act spurred demand changes among consumers.
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