Today, Toyota Motor Corporation (Toyota) and Panasonic Corporation (Panasonic) signed an agreement to explore the possibility of a joint automotive battery business.

The agreement says that the cooperation will help to address the growing demand and expectations for electrified vehicles. Actually, their business relationship can date back to 1953, but they have been challenging each other with the goal of mutual improvement. 

For the popularization of Toyota’s and other automaker’s electrified vehicles, the two companies recognize the importance of battery performance, price and safety, as well as stable supply capacity. Both companies will collaborate on the details of this cooperation.