Panasonic cuts battery unit’s profit outlook, warns on high-end EV sales, ET Auto

The battery unit’s production in Japan suffered from slowing uptake for high-end EVs in North America, Panasonic said in the presentation material, as the U.S. Inflation Reduction Act spurred demand changes among consumers. Panasonic Holdings, which supplies Tesla, said on Monday it had cut automotive battery production in Japan in the September quarter and shrank…

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First funding tranche for Verkor battery gigafactory near complete, ET Auto

Verkor has already raised around 350 million euros, mainly for a new innovation centre, a pilot production line already in operation and a “battery school” to train future employees. Verkor should complete the first tranche of fundraising for its future battery gigafactory in Dunkirk, France, in the coming weeks, co-founder and chief customer officer Philippe…

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