Toyota Motor Corporation and Panasonic Corporation agree to start studying the feasibility of a joint automotive prismatic battery business.
The two companies came to the shared realization that the popularization of electrified vehicles would be necessary to help address pressing social issues such as global warming, air pollution, the depletion of natural resources, and energy security, and that meeting customer demand and expectations around the world for electrified vehicles would help to realize a more sustainable society. Therefore, it was agreed to begin meaningful studies into the feasibility of achieving further advances in core automotive battery technologies and ensuring stable battery supplies.
|Toyota Motor Corporation and Panasonic Corporation agree to establish a joint venture company specializing in automotive prismatic batteries.|
|Prime Planet Energy & Solutions, Inc. started operations|
|Name||Prime Planet Energy & Solutions, Inc.|
Development, manufacture, and sale of high-capacity and high-power automotive prismatic lithium-ion batteries
Development, manufacture, and sale of automotive all-solid state batteries
Development, manufacture, and sale of next-generation automotive batteries other than those mentioned above (including batteries based on new principles)
Ancillary and other operations related to the above
|Executive structure||Representative director and President: Hiroaki Koda|
|Number of employees||Approximately 5,100
(including 2,400 at a subsidiary in China)
Toyota Motor Corporation: 51 percent
Panasonic Corporation: 49 percent