Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Panasonic Corporation    6752   JP3866800000

PANASONIC CORPORATION

(6752)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Ex-Tesla exec Straubel aims to build world's top battery recycler

10/08/2020 | 10:23am EST
FILE PHOTO: Aerial view of the Tesla Gigafactory near Sparks, Nevada

(This October 7 story corrects paragraph 4 to say 10,000 cars, not 100 cars)

By Paul Lienert

Tesla co-founder J.B. Straubel wants to build his startup Redwood Materials into the world's top battery recycling company and one of the largest battery materials companies, he said at a technology conference Wednesday.

Straubel aims to leverage two partnerships, one with Panasonic Corp, the Japanese battery manufacturer that is teamed with Tesla at the Nevada gigafactory, and one announced weeks ago with e-commerce giant Amazon.

With production of electric vehicles and batteries about to explode, Straubel says his ultimate goal is to "make a material impact on sustainability, at an industrial scale."

Established in early 2017, Redwood this year will recycle more than 1 gigawatt-hours' worth of battery scrap materials from the gigafactory -- enough to power more than 10,000 Tesla cars.

That is a fraction of the half-million vehicles Tesla expects to build this year. At the company's Battery Day in late September, Chief Executive Elon Musk said he was looking at recycling batteries to supplement the supply of raw materials from mining as Tesla escalates vehicle production.

Redwood's partnership with Panasonic started late last year with a pilot operation to recover materials at Redwood's recycling facilities in nearby Carson City, according to Celina Mikolajczak, vice president of battery technology at Panasonic Energy of North America.

Mikolajczak, who spent six years at Tesla as a battery technology leader, said: "People underestimate what recycling can do for the electric vehicles industry. This could have a huge impact on raw material prices and output in the future."

Straubel's broader plan is to dramatically reduce mining of raw materials such as nickel, copper and cobalt over several decades by building out a circular or "closed loop" supply chain that recycles and recirculates materials retrieved from end-of-life vehicle and grid storage batteries and from cells scrapped during manufacturing.

In September, Redwood said it received funding from Amazon's Climate Pledge Fund, following an investment by Breakthrough Energy Ventures, backed by Amazon CEO Jeff Bezos and Microsoft founder Bill Gates.

"I'm excited about the work we can do together," Straubel said of Amazon. "They have batteries in many devices," from consumer electronics to data centers, as well as future electric delivery vehicles and drones.

(Reporting by Paul Lienert in Detroit; Editing by David Gregorio)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.63% 3118.06 Delayed Quote.68.74%
MICROSOFT CORPORATION 1.78% 213.86 Delayed Quote.33.23%
PANASONIC CORPORATION 1.25% 1097 End-of-day quote.6.56%
TESLA, INC. 6.43% 555.38 Delayed Quote.563.81%
All news about PANASONIC CORPORATION
09:31aENGINE MEDIA : Teams with Panasonic System Solutions Company on the Panasonic UM..
AQ
11/20PANASONIC : Collaborates with Phiar to Bring Real-World AI-Driven Navigation to ..
AQ
11/20Toyota, Mitsubishi Elec win share of Japan's $2.4 billion subsidies for bring..
RE
11/19PANASONIC : Norsk Hydro ASA - Panasonic, Equinor and Hydro to explore potential ..
AQ
11/18PANASONIC : Equinor and Hydro to explore potential for European battery business
AQ
11/18PANASONIC : Verification of inhibitory effect of nanoe X, technology with the be..
AQ
11/18Hyundai faces lawsuit over EV fires as GM launches recall
RE
11/18FACTBOX : Battery fires put automakers in hot seat over EVs
RE
11/18Panasonic, Equinor, Hydro consider battery production in Norway
RE
11/18Equinor, Hydro and Panasonic plan join battery production in Norway
RE
More news
Financials
Sales 2021 6 549 B 62 669 M 62 669 M
Net income 2021 102 B 977 M 977 M
Net Debt 2021 174 B 1 660 M 1 660 M
P/E ratio 2021 25,0x
Yield 2021 2,25%
Capitalization 2 560 B 24 461 M 24 492 M
EV / Sales 2021 0,42x
EV / Sales 2022 0,39x
Nbr of Employees 259 385
Free-Float 90,8%
Chart PANASONIC CORPORATION
Duration : Period :
Panasonic Corporation Technical Analysis Chart | 6752 | JP3866800000 | MarketScreener
Technical analysis trends PANASONIC CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 1 082,53 JPY
Last Close Price 1 097,00 JPY
Spread / Highest target 31,3%
Spread / Average Target -1,32%
Spread / Lowest Target -38,9%
EPS Revisions
Managers
NameTitle
Kazuhiro Tsuga President, CEO & Representative Director
Shusaku Nagae Chairman
Hirokazu Umeda CFO, Director & Managing Executive Officer
Yoshiyuki Miyabe Chief Technology & Information Officer
Masayuki Matsushita Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
PANASONIC CORPORATION6.56%24 190
SONY CORPORATION28.23%109 007
TCL TECHNOLOGY GROUP CORPORATION59.28%13 960
LG ELECTRONICS INC.22.88%13 538
SHARP CORPORATION-17.92%7 744
XIAMEN INTRETECH INC.59.02%4 794