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Toyota and Panasonic establish joint venture for batteries of vehicles

February 3, 2020

Toyota Motor announced on February 3, 2020, that it will establish a joint venture with Panasonic, called “Prime Planet Energy & Solutions.” It will develop, manufacture and sell lithium-ion batteries, all-solid-state batteries, and next-generation batteries for vehicles. The amount of investment is undisclosed. The stake will be 51% for Toyota and 49% for Panasonic. The business will start on April 1, 2020.

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