Toyota and Panasonic set up a joint venture battery company will enter the Chinese marketAccording to foreign media reports, on February 3, Toyota and Panasonic's two companies have agreed to establish a joint venture and started electric vehicle batteries from April. It is reported that the new joint venture is called Prime Planet Energy and Solutions (Thai Star Energy Solution Co., Ltd.), mainly producing a vehicle power battery.
It is understood that the joint venture company is developed on April 1 this year, and the headquarters will be located in Tokyo, Japan, Toyota will hold 51% of the shares. Panasonic holds 49%, and the number of employees is about 5,100 (including Chinese subsidiaries).
According to the disclosure information, the business scope of the joint venture is the development, manufacturing and sales of car large capacity / high output power square lithium ion batteries; development, manufacturing and sales of car full solid state batteries. According to the previous context, Panasonic will transfer it to the joint venture in Japan and China's battery-related equipment and facilities. It is worth noting that it will continue to stay in Panasonic.
It is reported that the establishment of this joint venture is based on the further implementation of the joint venture contracts signed on January 22, 2019 and the respective battery career consolidation contracts.
According to Panasonic, battery joint venture with Toyota Motors will increase battery production capacity in Japan and China. In addition to Toyota cars, the product will also provide battery supply to Mazda, Dafa Cars, and Subar. At the same time, the increase in the production capacity of joint ventures will also compete with China's local enterprises.
Toyota and Panasonic set up a joint venture battery company will enter the Chinese market
According to foreign media reports, on February 3, Toyota and Panasonic's two companies have agreed to establish a joint venture and started electric vehicle batteries from April. It is reported that the new joint venture is called Prime Planet Energy and Solutions (Thai Star Energy Solution Co., Ltd.), mainly producing a vehicle power battery.
It is understood that the joint venture company is developed on April 1 this year, and the headquarters will be located in Tokyo, Japan, Toyota will hold 51% of the shares. Panasonic holds 49%, and the number of employees is about 5,100 (including Chinese subsidiaries).
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