American Battery Tech Co (ABAT): Panasonic (PCRFY) A Panasonic (PCRFY) s...

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PRED2020

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PRED2020

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Tuesday, 09/01/2020 9:10:05 AM

Tuesday, September 01, 2020 9:10:05 AM

Panasonic (PCRFY)
A Panasonic (PCRFY) sign hanging in Beijing, China.
Source: testing/Shutterstock.com
The key to electric vehicles is their batteries. That makes Panasonic one of the best electric car stocks to buy. Panasonic is the No. 1 global supplier of Li-ion batteries used in hybrid, plug-in hybrid and fully electric cars.

Panasonic has joint ventures with both Tesla and Toyota (NYSE:TM) to manufacture batteries for their electric vehicles. In February, Panasonic reported the first quarterly profit from its Tesla battery business. As battery production volume ramps up, Panasonic is expecting material costs to decrease, helping to improve that profitability.

Like Aptiv, PCRFY stock was hard hit in March and while it is on the road to recovery, it’s still trading below January levels.

https://investorplace.com/2020/09/7-electric-car-stocks-to-buy-for-a-big-ev-boom/

GO NIO