Panasonic and Toyota’s ongoing collaboration continues as the two companies have confirmed the establishment of a battery joint venture (JV), initially announced last year.
Having explored the feasibility of an automotive battery JV together since December 2017, the latest announcement has formally confirmed the deal. Toyota will have a 51% controlling share in the JV – Prime Planet Energy & Solutions Inc – with Panasonic taking the remaining 49%. Approximately 5,100 employees from both companies will be involved in the project, of which 2,400 are based in China.
The JV’s primary goal is the production of prismatic cells . . .