Reuters | Published: February 03, 2020 13:09:34 | Updated: February 04, 2020 16:15:58
The Toyota logo is shown at the Los Angeles Auto Show in Los Angeles, California, U.S., November 30, 2017. REUTERS/Mike Blake
Toyota Motor Corp and Panasonic Corp have agreed to set up a joint venture specialising in prismatic electric vehicle batteries.
The new company will develop batteries that will be available to any automaker, not limited to Toyota vehicles, the two companies said in a statement Monday.
It will begin operation on April 1, with Toyota owning 51 per cent and Panasonic holding the remainder.
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