Toyota Motor Corp and Panasonic Corp have announced plans to form a joint venture to develop connected services for use in homes and urban development.
The joint venture will further strengthen the partnership between the companies, which in January announced plans to form a joint venture to produce electric vehicle batteries in 2020, combining the extensive R&D capabilities and manufacturing capabilities of one of the world's largest automakers and battery manufacturers to fully compete in the fast-growing automotive market.
In the new company, expected to be launched early next year, Toyota and Panasonic will focus on developing technologies to provide personalized services in the home. The companies plan to become equal partners in the new company with 50/50 participation in the authorized capital and expand cooperation in activities in Japan related to housing development.
"We will combine our strengths to offer new value in everyday life," Panasonic President Kazuhiro Tsuga said on Thursday.
In turn, Toyota President Akio Toyota noted that the new directions that the company will engage in in addition to the automotive business will provide additional advantages for the company.
Source: 3dnews.ru