The president of Panasonic, KazuhiroTsuga stated that Panasonic has introduced research center in Xiongan New Area in China which is a new smart city being constructed outside Beijing. He further stated that in light of China being a continual growth arena for Panasonic, the company aims to increasing the sales in China in competence with Panasonic’s home market in Japan, by the year 2030.
The focal point of the research centers opening remains the company’s adaption and incorporation of artificial intelligence in homes and vehicles. The Xiongan project in signature of President Xi Jinping, would play a crucial role in Panasonic’s commitment to China.
While discussing Panasonics strategic management plan through 2030, Tsuga stated that China provides major room for growth to the company. The company would therefore, drive innovations by joining force with pioneering companies in China. He stated that taken into consideration, the population in China, the company must grow business operations such that of Japan.
With sales revenue of 800 billion Yen recorded in 201, Panasonic aims to raise this number to over 2 trillion ($17. Billion) Yen by the year 2030. The company has also defined a sales goal for the year 2020 of 1.2 trillion Yen to 1.3 trillion Yen.
With this research center, Panasonic would aspire orders for residential systems and products which use artificial intelligence for improving safety and energy efficiency of households. Apart from this, Panasonic would develop data systems for self-driving vehicles together with Baidu, a Chinese online search leader.