Japanese technology giant and long-standing Tesla battery supplier Panasonic has announced it’s cutting domestic electric vehicle (EV) battery production amid weaker demand for high-end EVs.
The company announced during its recent earnings call it slashed Japanese EV battery production by 60 per cent compared to the previous quarter.
Production on some lines has already stopped in order to reduce existing stockpiles of EV batteries.
Panasonic Group CFO Hirokazu Umeda announced the…
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