Panasonic will get rid of the production of household batteries in Europe

For several decades, the Japanese corporation Panasonic has sold more than 200 billion household batteries 

 

 but stricter environmental requirements and a focus on the electric vehicle segment are forcing it to sell its European disposable batteries. Similar production in Asia will be maintained.

Image Source: Nikkei Asian Review

Panasonic manufactures Eneloop-branded batteries and accumulators at two sites in Poland and Belgium, both due to change ownership to the management company Aurelius Group by June. Recently, the sale of batteries and accumulators under the Panasonic brand will continue for some time. The participants did not disclose the amount of the transaction, but third-party sources estimate it at tens of millions of US dollars.

In the current fiscal year, which is coming to an end, Panasonic raised $ 274 million from core activities. Local businesses provided the European market, annually around the world the company sold about 5 billion disposable batteries. The problem of recycling used batteries has been actively discussed by conservationists in recent years, therefore, under the pressure of the public, Panasonic decided to curtail its core products in Europe. The Swedish company Ikea, for example, plans to completely abandon the sale of disposable batteries, preferring reusable batteries.

Panasonic's battery production will continue in the Asian region, while in Europe the company will focus on the construction of a new traction battery facility for electric vehicles. In addition to Tesla, other automakers will be willing to use them. Panasonic has a joint venture with Toyota Motor that concentrates on prismatic battery cells.

   

 The release of batteries does not bring Panasonic much profit, so the abandonment of European production is also economically feasible.

Source link