{"text":[[{"start":6.95,"text":"Panasonic has predicted a rebound for its battery business as its main customer — widely understood to be Tesla — is expected to regain market share thanks to surging petrol prices spurring sales of electric vehicles. "}],[{"start":19.3,"text":"The Japanese manufacturer said it expected demand for its US-made batteries to grow 19 per cent to 46 gigawatt hours in its current financial year, “supported by [our] strategic customer’s recent recovery in market share” despite its forecast for overall EV sales to be flat across the wider US market. "}],[{"start":37.85,"text":"That would help its battery division to increase operating profit to ¥173bn ($1bn) in the 12 months to March 2027, more than double the previous year."}],[{"start":48,"text":"Despite Panasonic’s positive outlook, Tesla’s shares fell 1.5 per cent in pre-market trading on Tuesday. The US electric-car maker endured a difficult first quarter that left it with an inventory of 50,000 unsold units."}],[{"start":61.4,"text":"Panasonic’s annual net profit slumped by half to ¥189.5bn in the year to March 2026 as hefty restructuring costs were compounded by a difficult US EV market after the Trump administration scrapped subsidies."}],[{"start":76.8,"text":"US tariffs, as well as costs associated with an increase in battery production at its Kansas plant, also weighed on profits for Panasonic’s battery division."}],[{"start":85.39999999999999,"text":"The stuttering performance in the EV battery business comes as Panasonic executes a turnaround plan that has involved cutting 12,000 jobs and finding solutions for businesses with poor growth prospects, such as selling them or finding new partners."}],[{"start":100.89999999999999,"text":"On Tuesday, Panasonic unveiled a long-term growth plan focused on becoming a supplier of hardware for AI data centres, pledging to invest ¥500bn over three years for key components used in processors and power infrastructure."}],[{"start":116.85,"text":"The Osaka-based company has pivoted to supplying batteries to the data centre market to compensate for sluggish growth in EVs. "}],[{"start":124.64999999999999,"text":"The restructuring and greater focus on AI infrastructure have helped to double its share price over the past year, reaching a record high."}],[{"start":132.39999999999998,"text":"The company revealed further setbacks on Tuesday to mass production of its next-generation 4680 battery technology, which it had originally planned to start producing at scale by March 2024. "}],[{"start":145.09999999999997,"text":"The 4680 cell, with a capacity five times that of its existing technology, was touted as the key to Panasonic regaining competitiveness against South Korean and Chinese rivals. "}],[{"start":163.39999999999995,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1778630608_3354.mp3"}