Panasonic is facing an identity crisis.
Kazuhiro Tsuga, chief executive of the century-old technology group, often says the brand was so closely associated with plasma televisions that when it stopped making them five years ago, people no longer understood what the company did.
But that perception is itself outdated. In the eyes of investors, Panasonic has long shed its image as a consumer electronics maker. Globally, the company is now known best as the supplier of batteries to power Tesla’s electric vehicles. With the massive investments the Japanese group has made on the US carmaker’s $5bn battery “gigafactory” in Nevada, its fate has never been so tied to the success of a Silicon Valley start-up.
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