For every consumer electronics maker, the nascent electric car industry is a dream coming true. There is enough tech in electric cars—from infotainment systems to voice and facial recognition, software and parking sensors—to make an ambitious consumer electronics manufacturer cry with joy. There’s so much space to unleash your innovative drive. There is also growing competition, so it’s important to bet on the right EV/self-driving horse.
Tech companies are already unleashing their innovative drive: they are much in demand in the carmaking industry, as everyone is in a rush to join the ranks of electric car manufacturers. One of these tech companies is making what can easily be seen as a particularly smart choice: Panasonic.
The Japanese electronics manufacturer is Tesla’s partner in the battery gigafactory in Nevada, which is already churning out batteries developed jointly by the two companies that Tesla will fit into the Model 3, to start shipping this fall. Panasonic has pledged US$1.6 billion for the US$5-billion gigafactory.
Panasonic is also very much into self-driving cars, as the company’s chief executive told Reuters early this year, adding that Panasonic will be happy to take part in Tesla’s self-driving car development, contributing with sensor tech, for example. All in all, Panasonic eyes automotive business revenues of around US$18 billion (2 trillion yen) over its financial year through March 2019, to be enabled by the lively demand for car tech.
Yet Panasonic is not only putting its eggs in the battery and car tech basket. It is also partnering with Tesla on solar power. The Japanese firm invested US$250 million in the solar roof tile factory that Tesla operates in Buffalo, to help it boost production of the very cool roof tiles that neatly turn a roof into a solar panel instead of fitting external panels on it.
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