What Panasonic Energy makes

Panasonic Energy Co., Ltd. develops and manufactures cylindrical lithium-ion batteries for electric vehicles, dry batteries, lithium primary batteries, nickel-metal hydride batteries, and storage battery systems for industrial and data center applications. Within automotive supply tiers, the company operates at the Tier 1 level, supplying battery cells directly to vehicle manufacturers and EV program integrators.

The core automotive product line centers on two cylindrical cell formats. The 2170 cell, produced at scale since 2017, powers the majority of the company's current EV supply volume. The 4680 cell, a higher-capacity format with five times the energy content of the 2170, began mass production at the Wakayama Factory in Japan in late 2024 and represents the next generation of the company's in-vehicle offering. Both formats use cylindrical form factors chosen for manufacturing precision, thermal management, and the safety record accumulated across more than 19 billion cells delivered to date.

Beyond automotive drive batteries, Panasonic Energy supplies micro batteries and lithium primary cells to the healthcare and mobility security markets, and stationary storage battery systems to data center operators -- a segment that grew 28% in fiscal year 2025 as demand for AI infrastructure expanded. The company reports 20 manufacturing sites globally, including nine in Japan and eleven overseas, and holds more than 11,000 active battery patents.

Financial performance

Panasonic Energy reported net sales of ¥873.2 billion in fiscal year 2025 (ended March 31, 2025), with operating profit of ¥120.2 billion -- an operating margin of 13.8%, up from 9.7% the prior year. The in-vehicle segment declined 20% year on year to ¥481.2 billion, reflecting slower EV market growth and price revisions tied to lower raw material costs; the industrial and consumer segment grew 28% to ¥392.2 billion, driven by data center storage battery demand.

For the subsequent fiscal year (FY3/2026, ended March 31, 2026), the company's own profile page reports sales of ¥984.2 billion and operating profit of ¥69.8 billion -- a 12.7% revenue increase over FY2025 but a compression in operating margin to 7.1%, consistent with the company's stated transition from an investment phase into a ramp-and-recovery phase for the new Kansas Factory.

The company employs approximately 22,200 people on a consolidated basis as of April 1, 2026, up from about 20,679 at the end of FY2025. Panasonic Energy is a wholly owned operating company of Panasonic Holdings Corporation (Tokyo Stock Exchange: 6752), which reported consolidated net sales of ¥8,048.7 billion in FY3/2026 across its five operating segments.

In the Berylls by AlixPartners Top-100 global automotive supplier study for 2026 (FY2025 perimeter), Panasonic Energy ranks 71st with an automotive-scope revenue figure of approximately €4.7 billion. The large reported year-on-year decline in that study reflects the December 2024 deconsolidation of Panasonic Automotive Systems Co., Ltd. (PAS, now ranked separately as Mobitera), not a collapse in operations.

Ownership and history

The energy operations behind Panasonic Energy trace to September 1931, when Matsushita Electric began in-house production of dry batteries. A dedicated battery subsidiary, National Storage Battery Co., Ltd., was established in February 1935. Battery production has continued through successive organizational forms -- Matsushita Battery Industrial Co., Ltd. (1979), the Panasonic Corporation Energy Company (2008), and the Energy Company of the Industrial Solutions Company (2019) -- before the current entity, Panasonic Energy Co., Ltd., was formally incorporated as a standalone operating company under the Panasonic Group's operating-company system in April 2022.

Panasonic Holdings Corporation remains the parent. The holding company is listed on the Tokyo Stock Exchange (6752) and reported ¥8,048.7 billion in consolidated net sales for FY3/2026 with 183,685 employees worldwide across 447 consolidated companies.

The Nevada Factory in Sparks, Nevada, which operates within Tesla's Gigafactory, began production in January 2017 and now has annual lithium-ion cell capacity of approximately 41 GWh. The Kansas Factory in De Soto, Kansas, opened in July 2025 as the company's second North American site, targeting 32 GWh annually -- bringing total US production capacity to approximately 73 GWh once both facilities are fully ramped.

Certifications and quality

Panasonic Energy claims IATF 16949 certification at its automotive manufacturing sites, the standard quality management requirement for Tier 1 automotive battery suppliers. The company's integrated report describes a structured new product development flow with design review gates, trial mass production approval steps, and a shipping release process. As of July 2025, 17 of 21 manufacturing sites had achieved net-zero CO2 status under the company's environmental program, per company disclosures.

The automotive battery business has accumulated a documented safety record: the company reports no vehicle recalls attributable to its cells across more than 19 billion cells supplied as of March 2025, per its own investor materials.

Known customers

Panasonic Energy has documented supply relationships with several major EV programs.

Tesla has been the company's primary automotive customer since 2017, when production began at the Nevada Gigafactory. The company supplies 2170 cells from Nevada and has been preparing 4680 cells at the Wakayama Factory in Japan for supply to Tesla and other customers.

In September 2024, Subaru Corporation announced a preparation agreement with Panasonic Energy for automotive lithium-ion battery supply and the joint establishment of a new battery factory in Japan, per a joint press release.

In January 2025, Lucid Motors announced that the Lucid Gravity Grand Touring -- the company's new SUV -- would be powered by Panasonic Energy's latest-generation EV batteries, per a press release from both companies.

In November 2025, Panasonic Energy entered a multi-year agreement to supply 2170 battery cells to Zoox, the Amazon-owned robotaxi company, beginning early 2026.

In April 2025, Harbinger, a manufacturer of medium-duty electric work trucks, named Panasonic Energy as its official battery cell supplier.

Recent news

July 2025 -- Panasonic Energy opened its Kansas Factory in De Soto, Kansas, beginning mass production of 2170 cylindrical lithium-ion cells. The facility is targeting annual production capacity of approximately 32 GWh and is described in company materials as one of the largest automotive battery plants in North America. The opening brings the company's combined US EV battery production capacity to approximately 73 GWh annually.

September 2026 -- Panasonic Energy launched a new global battery R&D hub in Japan to accelerate development and production for automotive and data center applications, per the company's newsroom.

November 2025 -- Panasonic Energy announced a multi-year agreement to supply Zoox with 2170 lithium-ion cells beginning early 2026, marking the company's entry into the robotaxi market.

Frequently asked questions

What does Panasonic Energy make?
Panasonic Energy makes cylindrical lithium-ion batteries for electric vehicles (including the 2170 and 4680 cell formats), dry batteries, lithium primary batteries, nickel-metal hydride batteries, and storage battery systems for industrial and data center use. It is a wholly owned subsidiary of Panasonic Holdings and is recognized as a Tier 1 supplier to EV manufacturers.

Who owns Panasonic Energy?
Panasonic Energy Co., Ltd. is a wholly owned operating company of Panasonic Holdings Corporation, which is listed on the Tokyo Stock Exchange under the ticker 6752. Panasonic Holdings reported net sales of ¥8,048.7 billion in FY3/2026 across its five business segments.

What is Panasonic Energy's revenue?
Panasonic Energy reported net sales of ¥873.2 billion in fiscal year 2025 (ended March 31, 2025) and ¥984.2 billion in fiscal year 2026 (ended March 31, 2026), per the company's own profile page. The Berylls by AlixPartners Top-100 study for 2026 placed the automotive-scope revenue at approximately €4.7 billion, ranking the company 71st globally.

Where is Panasonic Energy headquartered?
Panasonic Energy is headquartered at 1-1, Matsushita-cho, Moriguchi-shi, Osaka 570-8511, Japan, approximately a ten-minute walk from Doi Station on the Keihan Line. The company also operates major facilities in Wakayama, Japan, and at two US sites: Sparks, Nevada, and De Soto, Kansas.

Who are Panasonic Energy's main customers?
The company's documented automotive customers include Tesla (Nevada Gigafactory and 4680 cell supply from Japan), Subaru (joint preparation agreement announced September 2024), Lucid Motors (Gravity Grand Touring, January 2025), Zoox (multi-year robotaxi agreement, November 2025), and Harbinger (medium-duty EVs, April 2025), per company press releases.

Last verified Sep 2026. Is this your company? Request a correction.