A year ago, Panasonic announced a planned increase of EV battery pack production from 50 to 200 gigawatt-hours by the end of 2030. It has since made corrections to these plans.
Specifically, the deadline “late 2030” has been removed while the target numbers have stayed the same. The company hasn’t yet commented what it means, but everything suggests that, with the EV market in a slump, it is no longer in a hurry to quadruple its battery manufacturing volumes by the start of the next decade.
Not only that, but reports are coming in that Panasonic may cancel the construction of its third Gigafactory for Tesla in the USA (the one in Nevada is already operational, while the one in Kansas in under construction). Predictably enough, this is also being blamed on poor EV sales.