On March 14, 2023, Panasonic announced that it will accelerate its growth strategy for its Heating & Ventilation A/C Company for the air-to-water (ATW) heat pump and hydronic systems business in the European market. As part of this strategy, the company will invest an additional ¥15 billion (about US$ 113 million) in its Czech Plant to increase production of ATW heat pumps, for which demand is growing. Combined with the investment already announced last year, the total investment in the European region amounts to ¥80 billion (about US$ 602 million).