Toyota and Panasonic have developed EV batteries together



Toyota and Panasonic are setting up a new company (joint venture) in connection with the production of EV batteries. By the end of 2020, Toyota and Panasonic will set up a joint venture (with the approval of the competition law authorities of the countries and regions concerned). The scope of business activities of the joint venture will cover research, development, production engineering, manufacturing, procurement, receipt of orders and management related to automotive lithium-ion batteries, solid-state batteries and next-generation batteries. 


The shareholding ratio in the joint venture is 51% for Toyota and 49% for Panasonic. Toyota will transfer equipment and staff to a joint venture in the fields of battery cell development and production engineering. The total number of employees of the two companies involved in transferring operations to the joint venture is 3,500 (as of end December 2018). Products produced by the joint venture are sold to different car manufacturers via Panasonic in principle. 

In addition to changes in consumer automotive needs, as evidenced by shifts towards connected vehicles, autonomous driving and car-sharing services, today's automotive world is also called upon by society to help solve problems such as global warming, energy and resources. As electrification of vehicles accelerates to solve these environmental problems, batteries are an extremely important element. 


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