TOKYO (Reuters) – Japan’s Panasonic Holdings said on Thursday the third-quarter operating profit of its energy unit, which supplies batteries to Tesla, rose 39% from a year earlier on improved profitability at its U.S. plant and stronger sales of energy storage systems.
Operating income for the key segment increased to 42 billion yen ($270.46 million) as the better profitability at its U.S. plant helped offset an overall decline in sales in its in-vehicle business, it said in presentation materials.
($1 = 155.2900 yen)
(Reporting by Daniel Leussink; Editing by Christian Schmollinger)
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