Panasonic will be ending the production of its solar cells and panels, as per a new report. The company was the former leader in the market but is now withdrawing due to intense competition from Chinese rivals.

According to a NikkeiAsia report, the Japanese tech giant is planning to step away from the solar cells and panel market due to Chinese rivals. These competitors can produce these parts at a lower cost and have thus caused intense competition, even in its home market. The report states that Panasonic will be quitting the manufacturing of solar cells and panels as early as March 2022 from its factories in Malaysia and Japan’s Shimane Prefecture.

The move would mark the complete exit of the solar manufacturing business from the company, which also ended a partnership with the US based Tesla for the production of solar cells back in 2020. Furthermore, Panasonic will be procuring solar panels from other manufacturers to stay in the power industry, like undertaking businesses that would have it install generation systems for residential purposes.

Due to Chinese manufacturers of solar panels, the price has fallen to about a third of that during 2012. In other words, Chinese suppliers and manufacturers have essentially forced out Japanese manufacturing out of production, with Panasonic’s solar business being in the red in recent times. This also made worse by the fact that domestic demand is also stagnating, causing its market share to decline even further.

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According to data obtained from the website of the U.S.-China Economic and Security Review Commission, as of February 25, 2019, there were 156 Chinese companies listed on the U.S. exchanges with a total market capitalization of $1.2 trillion. These companies are at risk of getting delisted as three sources familiar with the lingering US/China trade dispute hint that Donald Trump’s administration is considering delisting Chinese companies from US stock exchanges.

This would definitely take the dispute to an entirely new level, the outcome of which we can’t predict. The move is said to be part of a broader effort to limit US investment in Chinese companies, two of the sources said. One said it was motivated by the Trump administration’s growing security concerns about the companies’ activities.

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The news has triggered a reaction from the stock exchange as major US stock indexes slipped. Shares of some of the Chinese companies listed on the US stock exchanges dropped as a result. Alibaba shares closed at 5.15% lower while that of JD.com fell 5.95% and Baidu Inc declined 3.67%. The iShares China Large-Cap ETF shed 1.15%. Shares of New York Stock Exchange-owner Intercontinental Exchange Inc ended down 1.88% and shares of Nasdaq Inc declined 1.70%.

Delisting a listed company will not be an easy thing to do and at present, it is no clear how that would be done.

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(source)

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