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Toyota-Panasonic venture to start EV battery development in April, Auto News, ET Auto

The company will begin operations on April 1 with more than 5,000 employees, with Toyota owning 51 pc and Panasonic holding the remainder.
The corporation will get started operations on April one with much more than 5,000 employees, with Toyota proudly owning fifty one laptop and Panasonic keeping the remainder.

TOKYO: Toyota Motor Corp and Panasonic Corp have agreed to established up a joint venture that will get started producing electric vehicle (EV) batteries from April, as the Japanese firms equipment up for an anticipated surge in need.

The new corporation, referred to as Prime Planet Electrical power and Options, will create prismatic – or sq.-shaped – batteries that will be accessible to any automaker, the two firms mentioned in a assertion on Monday.

It will get started operations on April one with much more than 5,000 employees, with Toyota proudly owning fifty one% and Panasonic keeping the remainder, the pair mentioned.

The venture demonstrates the purpose of the Japanese firms to turn out to be even bigger world-wide gamers in the automotive

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