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(Reuters) – Panasonic (OTC:PCRFY) Corp said on Wednesday it expected global car production to recover this fiscal year, but that the two-year long chip shortage will continue.
The Japanese conglomerate, which makes batteries for Tesla (NASDAQ:TSLA) Inc, said last month it expected no growth in profits this business year, due to component shortages caused by COVID-19 lockdowns in China and rising material costs following Russia’s invasion of Ukraine.
