panasonic shares plunge after profit warning, tesla's maxwell deal - energy storage companies

TOKYO (Reuters)-
Shares of Panasonic fell nearly six.
Tuesday after 5% electric vehicles (EV)
Battery makers report a decline in quarterly revenue and cut all revenue
Year outlook, just as electric vehicle partner Tesla expands its business in the field of battery technology.
Japanese companies book 9% drops after breaking 19% of operating profits on Monday on October-
China's economy slowed in December, with weak demand for auto parts and factory equipment.
Both figures are well below analysts' estimates.
Later on Monday, electric car maker Tesla said it had agreed to buy American cars. S.
Energy storage company Maxwell Technology Co. , Ltd.
According to its website, Maxwell sells super-capacitor batteries to Lamborghini, a subsidiary of General Motors and Volkswagen.
The super capacitor stores electricity and supplements the battery.
Panasonic is Tesla's exclusive battery supplier, and Tesla is Panasonic's largest battery customer for electric vehicles.
The Japanese electronics company also makes super capacitors.
Industry analysts in Japan pointed out Tuesday that Panasonic's outlook is a major source of investor attention. They say the impact of Maxwell's deal on Panasonic is unclear.
"The latest gains reveal how difficult Panasonic is," said masuhiko ishiano, an analyst at Tokyo's East China Sea Research Center . ".
At the same time as the acquisition of Maxwell, Panasonic will also lose its exclusive cooperation with Tesla. S.
Electric car manufacturers plan to source batteries locally for a new car factory in Shanghai, "most likely from several companies.
"Panasonic has turned to offering products such as car batteries and cockpit systems to corporate customers, no longer using low-end products
But "it's clear that it's suffering commercially --to-
The same is true in business areas . "