Panasonic to plough $5b into electronic vehicle batteries and supply chain software
Summary
The Japanese conglomerate said the total investment dollar would be divided so that ¥400 billion is put towards what it considers to be "growth areas", such as automotive batteries and supply chain software, while the remainder ¥200 billion will be spent on technology such as cyber physical systems. The newly announced growth strategy by Panasonic follows years of aggressive acquisitions by the company to boost its portfolio in segments such as automotive batteries and supply chain software. Just last year, the tech giant closed a $7 billion acquisition deal with supply chain AI software provider Blue Yonder. Prior to that, the company formed a joint venture with Toyota that specialises in automotive batteries. "The new company will also promote R&D and commercialisation activities targeting the creation of new AI robotics products and services," Sony added.