Panasonic Inaugurates New Lithium-ion Battery Plant in China
Panasonic Corp. announced the completion of a new consumer lithium-ion battery factory built within the premises of its existing factory in Suzhou, China. The new facility, now in operation, enables integrated production from polar plates to cells and battery packs within the Suzhou site and further strengthens the company’s competitiveness in the global market.
Lithium-ion batteries are expected to find wider applications in the new fields, including storage for solar and other renewable energy sources and as a power source for environmentally friendly vehicles. On the other hand, there has been a growing demand for further cost reductions on consumer batteries used in such products as notebook computers and mobile phones, due to intensified global competition and the impact of currency exchange rates.
To meet such demand, Panasonic has set up integrated production systems in its three battery manufacturing bases in China: Suzhou, Wuxi and Beijing. The company will fully utilize these facilities to increase production of consumer lithium-ion batteries and cut costs by lifting the production ratio in China, procuring materials locally and reducing logistics costs. The reinforced production in China will not only facilitate cost reduction but also enable the company to hedge foreign exchange rate risk.
With its enhanced competitiveness backed by the boosted manufacturing capability in China as well as its wide lineup of consumer lithium-ion batteries, Panasonic continues to provide batteries that meet the needs of its customers in a timely and speedy fashion and expand its battery business on a global scale.