Toyota Motor Corporation (Toyota) and Panasonic Corporation (Panasonic) concluded a business integration agreement to establish a new company (hereinafter a joint venture) for the automotive prismatic battery business.

This joint venture will develop highly competitive batteries that can realize safe and excellent quality and performance (capacity, output, durability, etc.) and cost that can be used by all customers with peace of mind. The joint venture will supply batteries widely and stably to all customers, not just Toyota.