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23 01 2019 03

Toyota Motor Corporation and Panasonic Corporation have concluded a business-integration contract and a joint-venture contract toward the establishment of a new joint venture related to the automotive prismatic battery business by the end of 2020 (pending approval from the competition-law authorities in the countries and regions concerned).

Toyota will hold 51% of the JV, and Panasonic 49%. The scope of the joint venture's business operations will cover research, development, production engineering, manufacturing, procurement, order receipt, and management related to automotive prismatic lithium-ion batteries, solid-state batteries, and next-generation batteries.

Toyota will transfer equipment and personnel to the joint venture in the areas of development and production engineering related to battery cells. Panasonic will transfer equipment, other assets, liabilities, personnel, and other items to the joint venture in the areas of development, production engineering, manufacturing (at plants in Japan and in Dalian, China), procurement, order receipt, and management functions related to the automotive prismatic battery business.

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