ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business deals

Toyota charges into electric car race with Panasonic tie-up

Automaker switches off cautious approach to EVs as China quota excludes hybrids

The iRide is among Toyota's prototypes for electric vehicles. (Photo by Tomoki Mera)

NAGOYA/OSAKA -- Toyota Motor is entering the electric car market at full force, an area it was one step behind in, with technological help from battery partner Panasonic, as it shores up its presence in the world's largest auto market of China.

The companies on Tuesday announced plans to set up a joint battery venture by the end of 2020, with Toyota taking a 51% stake and supplying 500 staff. Panasonic will own the rest and provide 3,000 people. Sales of batteries produced by the new entity will be handled by Panasonic.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more