Key insights
- Panasonic plans to begin mass production of battery cells for data centers in Kansas by fiscal 2028, allocating a significant portion of its AI infrastructure investment to this initiative. This expansion into a key growth area, coupled with a new plant in Mexico, signals a strategic push into the burgeoning data center market. The move could positively impact related supply chains and technology sectors within the US, potentially boosting investor confidence in companies involved in AI and energy storage solutions.
TOKYO, June 8 (Reuters) - Panasonic Holdings said on Monday it plans to start mass production of battery cells for data centre applications at a plant in the U.S. state of Kansas in the financial year 2028, which ends March 2029.
Here are some details:
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The company said it would allocate about 350 billion yen ($2.18 billion) of its previously announced 500 billion yen investment in AI infrastructure over fiscal 2026-2028 to its Energy unit, which supplies Tesla, and 150 billion yen to its Industry segment.
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Panasonic Energy also plans to build a third plant in Mexico with mass production scheduled for the fiscal year 2028.
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Panasonic Energy CEO Kazuo Tadanobu said the unit’s 950 billion yen sales target for data centre-related energy storage systems in the 2028 financial year was a "minimum commitment", adding that the business would aim to lift sales to more than 1 trillion yen.
($1 = 160.1900 yen)
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