In an interview last Friday, Panasonic CEO Yuki Kusumi stated that the company would not be opening another U.S. plant until the timing is right. He explained that Panasonic needs to focus on increasing productivity at its current locations before considering the addition of a new factory. Kusumi emphasized the importance of thoroughly raising productivity before expanding to a third location. He also mentioned that having fewer production locations is generally preferable in terms of human resources. Furthermore, Kusumi pointed out that there is still ample room for increasing production at existing factories by improving machine maintenance and overall processes.
Kusumi expressed his hope that Panasonic will be able to generate profits without relying on credits from the Inflation Reduction Act (IRA).
For further thoughts and opinions, readers are encouraged to email Zach at [email protected], connect with him on X at @zacharyvisconti, or send tips to [email protected].