Financial Wire

Market Chatter: Asahi Kasei Delays Canada Battery Plant on Weak EV Demand

-- Asahi Kasei (TYO:3407) will delay the start of its battery separator plant in Ontario, Canada, to 2029 or later after Honda Motor (TYO:7267) postponed its electric vehicle project, denting demand, Nikkei reported Wednesday.

The plant, initially slated to begin operations in 2027, will instead be supported by exports from Japan to serve North America, according to the report.

The company has sharply lowered its outlook for the region's EV market and scaled back related investments. It is turning to demand from energy storage and artificial intelligence data centres to support growth, the report said.

U.S. energy storage installations are rising rapidly and are expected to expand further by the end of the decade. Asahi Kasei has also trimmed its medium-term sales target for its separator business, while maintaining margin goals, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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