TOKYO | Toyota, Panasonic announce venture for green auto batteries

22Jan - by Editor - 0 - In STL.News

TOKYO—Jan 22, 2019—Toyota Motor Corp. and Panasonic Corp. say they are setting up a joint venture to research, manufacture and sell batteries for ecological autos, an increasingly lucrative sector amid concerns about global warming.

The Japanese automaker and the Japanese electronics maker said in a joint statement Tuesday Toyota will take a 51 percent stake and Panasonic 49 percent in the joint venture, which is to be running by the end of 2020.

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