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By Greg Gao

(JW Insights) Apr 17 -- Japanese battery giant Panasonic’s joint venture Panasonic Storage Battery Shenyang (PSBS) in Shenyang, northeastern China’s Liaoning Province, plans to stop production on May 1 this year and enter the process of dissolution and liquidation, according to recent media reports. Media analysis points to Panasonic’s falling competitiveness in the battery market as the reason behind the change.

PSBS was jointly incorporated by Matsushita Electric Industrial(松下电器产业株式会社) and Shenyang Northeast Battery (沈阳东北蓄电池, formerly Shenyang Battery Factory) in 1994, has a registered capital of 145 million yen and covers an area of 62,500 square meters.

The company has introduced the advanced technology, equipment and testing system of Panasonic Corporation of Japan. It provides more than 40 kinds of “Panasonic” brand medium and small sealed lead-acid batteries for UPS(uninterruptible power supply), emergency light, electric tools and electric bicycles, and financial, communication systems and other fields.

Its battery for backup power supply has been widely recognized due to its good consistency, high specific energy, long life, safety and reliability, and no leakage. The company has passed ISO9001 quality system certification, ISO14001 environmental management system certification, and OHSAS18001 health and safety management system certification, said the company.

According to media analysis, PSBS chose to withdraw from the Chinese market mainly due to its decline in competitiveness. The current top ten lead-acid battery manufacturers in China are primarily local brands, such as CHILWEE Battery(超威电池), Camel Battery(骆驼电池), and Tianneng Power(天能动力).

Panasonic is also a pioneer in the lithium battery industry. It cooperated with US EV titan Tesla in 2008 and is one of its leading power battery suppliers. According to public data, at its peak, Panasonic’s global market share of power batteries exceeded 30%. Still, with the rapid development of Chinese and South Korean companies, Panasonic’s market share in lithium-ion power batteries has continued to decline.

An SNE Research report showed that Panasonic’s total installed battery capacity fell to fourth place, with an annual installed capacity of 38GWh and a global market share of 7.3%, ranking behind Chinese battery manufacturers CATL, BYD, and South Korean firm LG New Energy.