Panasonic invests $5 billion in automotive electronic batteries and supply chain software

Panasonic has indicated that the group will invest a total of ¥600 billion, $4.9 billion in automotive batteries and supply chain software over the next three years through fiscal year 2025, as part of the company’s medium and long-term growth strategy. term.

The Japanese conglomerate said the total investment dollar would be divided so that ¥400 billion will be spent on what it sees as “growth areas” such as automotive batteries and supply chain software, with the rest ¥200 billion being spent on technology such as cyber-physical systems. .

“While maintaining financial discipline, the group must make group-wide strategic investments with the money generated from improving competitiveness, as well as the investments made by each operating company,” the company said in a statement. [PDF]†

The company also targets a cumulative operating profit of 1.5 trillion over the period.

Panasonic added that under the strategy, it aims to reduce CO2 emissions by more than 300 million tons by 2050.

Panasonic’s newly announced growth strategy follows years of aggressive acquisitions by the company to grow its portfolio in segments such as automotive batteries and supply chain software. Last year, the tech giant signed a $7 billion acquisition deal with supply chain AI software provider Blue Yonder.

Before that, the company formed a joint venture with Toyota, which specializes in car batteries.

Meanwhile, Sony Group announced the creation of Sony Mobility, a new company that will be responsible for the development and commercialization of a mobility service platform.

Sony said the new business unit will also take over some of the responsibilities of Sony’s Robotics Business Group, including overseeing the development of technologies such as the Aibo robot, Airpeak drone, self-driving SC-1 social car and its own taxi. from the company. hailer app, S.Ride. The transfer of responsibilities is expected to be completed in September.

“The new company will also promote R&D and commercialization activities aimed at the creation of new AI robotics products and services,” Sony added.

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