Tesla's battery demand is 'stable,' Panasonic CEO says, but U.S. election a risk

Company's CES booth showcases products ranging from solar tech to mini-shavers

20240110 tesla and pana

Tesla is a key client for Panasonic, which is looking to expand production of EV batteries in the U.S. (Source photos by Reuters)

RYOHTAROH SATOH, Nikkei staff writer

LAS VEGAS, U.S. -- Demand for Panasonic batteries from key client Tesla is "stable," but the upcoming U.S. presidential election poses uncertainty for the electric vehicle market as a whole, the president of Panasonic Holdings said on Tuesday.

"There are a variety of views on what EV demand will be like," President Yuki Kusumi said on the sidelines of the CES technology trade show in Las Vegas. Although Panasonic sees growth in demand going into 2030, he said, one reason for uncertainty is that "you don't know how the election will turn out."

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