Panasonic plans to further expand its artificial intelligence business by investing approximately 500 billion Japanese yen in the next two fiscal years.

According to reports, Panasonic, as a former global consumer electronics leader, has gradually reduced its dependence on home appliance business in recent years and has become an important battery supplier for Tesla. Panasonic plans to achieve sales of approximately 1.4 trillion yen in AI infrastructure-related business in the next three years through cooperation with major industry players, and recently announced that it will invest around 500 billion yen in this business in the next two fiscal years. The company will also increase the scale of layoffs from the previously announced 10,000 people to 12,000 people, with an expected savings of 145 billion yen by fiscal year 2024.