Toyota and Panasonic to set up EV battery joint venture
Petre Barac
Posted On February 3, 2020
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Toyota Motor Corp and Panasonic Corp have agreed to set up a joint venture specializing in prismatic electric vehicle batteries, Reuters reads.
The new company will develop batteries that will be available to any automaker, not limited to Toyota vehicles, the two companies said in a statement Monday. It will begin operation on April 1, with Toyota owning 51% and Panasonic holding the remainder.
