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Panasonic Corp announced Monday that Panasonic Life Solutions Vietnam Co Ltd, headquartered in Binh Duong province, Vietnam, will construct a new building on the premises of its existing factory in order to respond to the increasing demand for electrical construction materials in Vietnam.
This will be the company's second factory capable of producing wiring devices and circuit breakers, with an investment of approximately 1.3 billion yen. The new factory is scheduled to start production in April 2023.
The Vietnamese economy has been expanding dramatically in recent years, with the GDP forecast to grow 6% per year through 2030. The construction of this new building will allow the company to respond to the brisk demand in Vietnam by enabling the production 150 million wiring devices per year in 2029, which is approximately 1.8 times the current production.
The company is also planning to optimize manufacturing lines in the factories, including those in the existing factory. This will reduce the lead time from manufacturing to shipment, thereby increasing the supply capacity to the market.
Panasonic will continue to offer electrical construction materials and equipment that deliver comfortable, safe, secure, and affluent lifestyles to consumers around the world by utilizing technologies and expertise acquired over many years in business.
Source: Panasonic Corp
© Japan Today
8 Comments
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Septim Dynasty
Panasonic has been falling so hard in recent years that they now rely on ASEAN markets for survival. Their presence in the West and China are gradually becoming invisible.
Roopdoop
@septim-dynasty don’t know what your on about but Panasonic had just started manufacturing Tesla’s new battery pack.. it’s the 3 biggest manufacturer of batteries in the world… just because they don’t make white goods for export anymore doesn’t mean it’s a dead company…
Septim Dynasty
@Samit Batsu will a field day to debunk this claim if he is here. Anyway, South Korean and Chinese manufacturers are already dominating the battery industry. Panasonic won't stand a chance soon!
Roopdoop
@septim-dynasty cool I’ll be waiting.
https://asia.nikkei.com/Business/Automobiles/Panasonic-to-start-producing-new-Tesla-batteries-in-2023
https://elements.visualcapitalist.com/ranked-top-10-ev-battery-makers/
tell yourself what ever you need to make yourself sleep at night!
Peter Neil
So much for the philosophy that Vietnam was a lynchpin and domino that had to be protected at all costs to keep the God-less commies from taking over the world.
Desert Tortoise
The government of Vietnam is every bit as bad as that of China. Both are oppressive one party police states. Both governments and ruling parties are organized very much alike. Both deny their people the most basic human rights. About the only things that differentiate them is that Vietnam fears China considering them to be an adversary and Vietnam is not currently engaged in a genocide as the Chinese are in both Xinjiang and Tibet. Vietnam's fall to communism was not a good thing. Had history been different it might have a government more like that of Taiwan or South Korea instead of the thugs that rule Vietnam now.
maglev101
The most important differences are: 1) US doesn't consider Vietnam a threat to its global hegemony and 2) US can use Vietnam as a tool (like Japan, S. Korea, Australia, etc) against China.
Desert Tortoise
Is there no concept in your world that nations can cooperate together willingly towards a common goal? Is every relationship in your life one of dominance on the part of one and submission on the part of another? Are mutual cooperation and teamwork alien concept to you?