Panasonic invests EUR 320 million (USD 344 million) to expand heat pump production hub in Czech Republic
- brg_news_room
- 2 days ago
- 1 min read
Czech Republic: Japanese electronics giant Panasonic has reopened its newly expanded “giga factory” in Pilsen, Czech Republic, after a EUR 320 million (USD 344 million) investment, marking one of the largest manufacturing moves in Europe’s heating and cooling sector in recent years. The facility will serve as Panasonic’s main European hub for production and R&D of air-to-water heat pump solutions, with capacity expected to reach 1.4 million units annually by 2030. This shift brings manufacturing from Southeast Asia to Europe, aligning with EU decarbonisation targets and rising demand for localized clean energy solutions.
The reopening comes as Europe’s heat pump market, valued at EUR 12.2 billion (USD 13.1 billion) in 2024, is forecast to exceed EUR 71 billion (USD 76.3 billion) by 2034, driven by policies phasing out gas boilers and the EU’s target of 30 million new heat pump installations by 2030. The Pilsen factory, located in the Czech Republic’s “Silicon Valley,” strengthens local industry, creates high-value jobs, and reduces logistics emissions by integrating R&D and production. Panasonic’s investment also supports its Net Zero goals for 2030 operations and 2050 value chain while positioning it as a strong competitor to European players like Vaillant, Viessmann, and Bosch Thermotechnology.
Source: Tech (dot) eu
