Tesla Gigafactory Funding Negatively Impacts Panasonic’s Q3 Outcomes

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Panasonic invested $1.6 billion into the Gigafactory

The newest funding within the Tesla Gigafactory manufacturing strains extremely affected Panasonic’s monetary leads to the third quarter.

Regardless of total revenues barely rising, the working revenue decreased by 15% to 95.2 billion JPY ($840 million) and internet income decreased by 20% to 56.2 billion JPY ($497 million).

Panasonic explains:

  • General gross sales elevated, pushed primarily by Vitality and Automotive.
  • Working revenue decreased , impacted from one-off earnings recorded in earlier yr, together with ramp-up bills at automotive battery manufacturing facility in North America, weakening funding demand in China, and sluggish gross sales of shopper electronics.

The Japanese producer encourages that gross sales, working revenue, and internet revenue forecasts for the total yr stay unchanged.

The entire funding in 35 GWh lithium-ion cell manufacturing capability on the Gigafactory apparently price Panasonic some $1.6 billion or some $46 per kWh of put in capability.

“Panasonic has been investing in Tesla’s battery plant as manufacturing of mass-market Mannequin three vehicles accelerates. Its $1.6 billion funding to take manufacturing capability to 35 gigawatt hours (GWh) is nearly full, however the enterprise has but contribute to revenue.”

We aren’t positive how a lot internet earnings Panasonic gest from every kWh of cell produced, however assuming $5 (or 5% out of $100/kWh on the cell stage) it seems to be a long-term funding with a payback interval of >10 years (together with capital price).

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Panasonic outcomes – Q3’2018 (Japanese FY 2018-Q2)

Supply: Reuters


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