According to reports in Japanese local media, Panasonic will build a new kitchen appliances factory in China.
This marks Panasonic's building of a home appliance factory in China again after 16 years.
With an investment of about JPY4.5 billion, the new factory will be located in Jiaxing, Zhejiang Province and it will cover an area of about 50,000 square meters. Its products will not only be available in the Chinese market, but also will export to the Asian market.
The factory is expected to put into production in 2021 and it will make microwaves, electric cookers and kettles. On completion, its annual sales are expected to reach CNY2 billion.