Panasonic Precision has developed a compact car for the Chinese market for $2900, but it’s not a car
Porsche design studio commissioned by Panasonic, the Alpha washing machine with stainless steel body, digital display, stylized car dashboard and Wi-Fi module will be sold in China for $2900.
“No one embraces new technology like the Chinese,
– notes Tetsuro Homma.
– Smartphone activity puts even Silicon Valley in the shade.
Recently the Celestial Empire has become the largest market for Panasonic sales of the home appliances outside of Japan. Its booming middle class often flaunts its newfound wealth, so they’re not satisfied with the usual washers, dryers and refrigerators. Every model must have something “super-tech-premium”-German design, smartphone connectivity and other things that buyers from other regions probably won’t pay extra for, says Tetsuro Homma, head of Panasonic’s consumer electronics division.
“Their appetite for consumption is phenomenal. We can’t make that many washing machines,
– he says.
What is the reasoning behind Panasonic’s decision to sell Porsche to a Chinese company?
Why did Panasonic decide to sell Porsche to a Chinese company? What implications does this sale hold for the future of Porsche and its brand?