Toyota Motor Corporation and Panasonic Corporation have concluded a business-integration contract and a joint-venture contract toward the establishment of a new joint venture related to the automotive prismatic battery business by the end of 2020 (pending approval from the competition-law authorities in the countries and regions concerned).
Toyota will hold 51% of the JV, and Panasonic 49%. The scope of the joint venture's business operations will cover research, development, production engineering, manufacturing, procurement, order receipt, and management related to automotive prismatic lithium-ion batteries, solid-state batteries, and next-generation batteries.
Toyota will transfer equipment and personnel to the joint venture in the areas of development and production engineering related to battery cells. Panasonic will transfer equipment, other assets, liabilities, personnel, and other items to the joint venture in the areas of development, production engineering, manufacturing (at plants in Japan and in Dalian, China), procurement, order receipt, and management functions related to the automotive prismatic battery business. . . .
The joint venture will integrate management and other resources from both companies, fusing strengths of both Toyota and Panasonic. Toyota is to contribute: 1) know-how and market data related to electrified vehicles, 2) advanced technologies related to solid-state batteries and more, and 3) Toyota-style manufacturing capabilities (monozukuri). Panasonic, demonstrating its strengths as a battery manufacturer, is to contribute: 1) technologies related to high-capacity and high-output batteries that are high-quality and extremely safe, 2) mass-production technologies, and 3) a customer base both in Japan and overseas. In this way, the joint venture aims to become the leader in battery-development and battery-manufacturing capabilities. . . .