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Panasonic (PCRFY) & Sila Unite to Enhance EV Battery Technology
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Panasonic announced that it has finalized an agreement with Sila Nanotechnologies to acquire an innovative nano-composite silicon anode material for electric vehicle lithium-ion batteries.
Per the agreement, Panasonic will purchase Titan SiliconTM, which surpasses traditional silicon due to its higher capacity and ability to control expansion during charging. The incorporation of silicon is crucial for enhancing battery performance as it potentially offers 10 times the capacity of graphite that is commonly used in current lithium-ion batteries.
Panasonic aims to replace graphite in the anode material with silicon, thereby increasing energy density. Also, this will lead to better electric vehicle performance, reduce charging durations and improve vehicle range. The current agreement to integrate silicon materials into its battery development bodes well with Panasonic’s commitment to achieving a 25% increase in battery energy density by 2031, from 800Wh/L to 1,000Wh/L.
Panasonic plans to source the required silicon material from Sila’s manufacturing plant in Washington and strategically focus on strengthening local supply chains in North America to expand battery production. This collaboration aligns with Panasonic’s commitment to a resilient supply chain and will contribute to reducing the company’s carbon footprint, logistics, and transportation costs.
Panasonic intends to further extend its silicon procurement network through additional partnerships in the region. Panasonic plans to fuel the growth of the lithium-ion battery industry to meet the increasing global demand for electric vehicles.
Per a report from Grand View Research, the global lithium-ion battery market size was estimated at $54.4 billion in 2023 and is projected to register a CAGR of 20.3% from 2024 to 2030. The industry is likely to benefit from increasing government initiatives to support EV production.
Panasonic is a leader in the development and manufacture of electronic products for a wide range of consumer, business and industrial needs. The company also offers a wide array of products and services like automotive and avionics systems, industrial systems, etc.
Panasonic currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 9.8% year to date compared with the sub-industry’s growth of 9.7%.
The Zacks Consensus Estimate for Pegasystems’ 2023 EPS has improved 21.2% in the past 60 days to $1.77. PEGA delivered an average earnings surprise of 1,250.2% in the trailing four quarters. Shares of PEGA have soared 51% in the past year.
The Zacks Consensus Estimate for Flex’s fiscal 2024 EPS has increased 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%.
Flex’s earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11%. Shares of the company have risen 19.8% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 2.8% in the past 60 days to $8.00. Watts Water’s long-term earnings growth rate is 7.8%.
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Panasonic (PCRFY) & Sila Unite to Enhance EV Battery Technology
Panasonic announced that it has finalized an agreement with Sila Nanotechnologies to acquire an innovative nano-composite silicon anode material for electric vehicle lithium-ion batteries.
Per the agreement, Panasonic will purchase Titan SiliconTM, which surpasses traditional silicon due to its higher capacity and ability to control expansion during charging. The incorporation of silicon is crucial for enhancing battery performance as it potentially offers 10 times the capacity of graphite that is commonly used in current lithium-ion batteries.
Panasonic aims to replace graphite in the anode material with silicon, thereby increasing energy density. Also, this will lead to better electric vehicle performance, reduce charging durations and improve vehicle range. The current agreement to integrate silicon materials into its battery development bodes well with Panasonic’s commitment to achieving a 25% increase in battery energy density by 2031, from 800Wh/L to 1,000Wh/L.
Panasonic Corp. Price and Consensus
Panasonic Corp. price-consensus-chart | Panasonic Corp. Quote
Panasonic plans to source the required silicon material from Sila’s manufacturing plant in Washington and strategically focus on strengthening local supply chains in North America to expand battery production. This collaboration aligns with Panasonic’s commitment to a resilient supply chain and will contribute to reducing the company’s carbon footprint, logistics, and transportation costs.
Panasonic intends to further extend its silicon procurement network through additional partnerships in the region. Panasonic plans to fuel the growth of the lithium-ion battery industry to meet the increasing global demand for electric vehicles.
Per a report from Grand View Research, the global lithium-ion battery market size was estimated at $54.4 billion in 2023 and is projected to register a CAGR of 20.3% from 2024 to 2030. The industry is likely to benefit from increasing government initiatives to support EV production.
Panasonic is a leader in the development and manufacture of electronic products for a wide range of consumer, business and industrial needs. The company also offers a wide array of products and services like automotive and avionics systems, industrial systems, etc.
Panasonic currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 9.8% year to date compared with the sub-industry’s growth of 9.7%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the broader technology space are Pegasystems (PEGA - Free Report) , Flex (FLEX - Free Report) and Watts Water Technologies (WTS - Free Report) . Pegasystems and Flex presently sport a Zacks Rank #1 (Strong Buy), whereas Watts Water Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Pegasystems’ 2023 EPS has improved 21.2% in the past 60 days to $1.77. PEGA delivered an average earnings surprise of 1,250.2% in the trailing four quarters. Shares of PEGA have soared 51% in the past year.
The Zacks Consensus Estimate for Flex’s fiscal 2024 EPS has increased 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%.
Flex’s earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 11%. Shares of the company have risen 19.8% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 2.8% in the past 60 days to $8.00. Watts Water’s long-term earnings growth rate is 7.8%.