Panasonic CEO Says Battery Plans Align With Slower EV Demand
Panasonic Holdings Corp. 's decision not to rush into expanding capacity to build batteries has been validated by slower global demand for electric vehicles, Chief Executive Officer Yuki Kusumi said.
The supplier of lithium-ion batteries to Tesla Inc. is getting ready to start production at a second US-based factory in Kansas, but has frozen plans for a third plant. Panasonic has been making batteries in Nevada since 2017, helping the carmaker ramp up volume sales for Tesla's Model 3 and Model Y cars.
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In 2011, Cuomo faced pressure on his left flank to maintain a high tax surcharge set to expire at the end of that year. Cuomo negotiated a compromise that resulted in a lower tax for wealthy people, but at a higher rate if the surcharge had been allowed to expire. Cuomo's critics at the time derided the deal as a giveaway to millionaires. He embraced higher taxes on rich New Yorkers in 2021, citing the financial toll from Covid. Cuomo battled with labor leaders early in his first term as governor. He pressed public-sector unions for cost-saving contracts amid a financial crunch and threatened mass layoffs if the savings weren't achieved. He eventually secured the deals he wanted.
