10 Facts about Panasonic

Feb 9

Panasonic Lithium Battery Business Overview (information compiled by Andy Lee)

1- Panasonic formed 1st Joint Venture, PEVE with Toyota Motor Corporation in 1996, with products solely based on Nickel–Metal Hydride (NiMH) until early 2011 when they started mass producing Lithium Battery.

2- Panasonic acquired Sanyo Electric in 2009 (wholly owned in 2011) to accelerate their Battery business.

3- EV Battery is only a small business in a big conglomerate; ~32% of Automotive segment and ~6.3% of total FY2020 business.

4- Panasonic is the sole Japanese in the list of global top 5 lithium-ion battery producer. PEVE in the top 10 list is technically also Panasonic technology.

5- Panasonic was Number #1 EV lithium-ion battery producer until overtaken by CATL in 2017.

Panasonic Lithium Battery Market - car manufacturers (information compiled by Andy Lee)

6-Not surpising to see supply network filled by mainly Japanese companies.

7- There is NO Korean supplier.

8- Prime Planet Energy & Solutions (PPES) is a 2nd JV between Panasonic and Toyota formed on 1 April 2020, with focus on development and manufacturing of Li-ion battery and Solid State Battery

9- JV with Toyota reduced Panasonic’s dependency on Tesla whereby Tesla had diversified their supply to LG Chem and CATL, and planning to produce their own cells in the future.

10- NCA 2170 deployed in Tesla Model 3 uses less Cobalt than NMC811 (5% vs 9%), and has silicon-doped anode.