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The outgoing CEO says Panasonic should reduce dependence on Tesla

OSAKA: Outgoing CEO Kazuhiro Tsuga, the outgoing CEO of Panasonic, has said the company will need to reduce its heavy dependence on Tesla by making batteries more compatible with electric cars than other global automakers, the Financial Times reported Sunday. .

“At some point, we need to graduate from our one-man approach relying solely on Tesla,” Tsoga, who will step down after nine years as CEO from April 1, told the newspaper in an interview.

“We are entering a different phase and need to monitor the supply of manufacturers other than Tesla.”

The Japanese giant announced in November that Tsuja would step down in April after nine years in the position, and that Yuki Kosumi, its automobile business chief, would take over.

Under Tsuga’s leadership, Panasonic has shifted its focus away from low-margin consumer electronics to batteries, plant machinery and components. The company said last month it expected its battery business that supplies Tesla to be profitable this financial year.

Panasonic has partnered with Tesla at a $ 5 billion Giga battery factory near Reno, Nevada.

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