Back in 2015, the prodigious young entrepreneur Li Yinan introduced his inaugural electric vehicle, the Niu N1. One of its key selling features was the incorporation of Panasonic's 18650 lithium - ion batteries. During that period, Panasonic stood as a frontrunner in the battery industry, enjoying immense popularity and high demand.
However, fast - forward a decade. From January to October this year, Panasonic has tumbled to the 7th position in the global rankings of power battery installations. Its installed capacity stands at 35.9GWh, which is merely a sliver compared to that of CATL. This development has effectively brought an end to Panasonic's erstwhile glory.
