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Toyota and Panasonic announce joint venture

Jan 22, 2019 - Marketline Newswire

Toyota and Panasonic have announced a joint venture to manufacture prismatic electric vehicle (EV) batteries. The partnership will be established by the end of 2020, with Toyota owning 51% stake and Panasonic 49%.

Toyota will transfer equipment and personnel to areas of development and production, and Panasonic will move five battery production facilities to plants in Japan and China. The total number of employees involved in the venture will be 3,500.The joint venture is aimed at producin...