Panasonic and Dalian JV to make Automotive Batteries in China
Panasonic Corporation has this time established a joint venture company to manufacture automotive batteries in China, together with Dalian Levear Electric Co., Ltd. called Panasonic Automotive Systems Dalian Co., Ltd. (PASDL). The joint venture company will gain the support and cooperation of the relevant authorities and intends to begin production from 2017.
China, which boasts the world's biggest quantity of car production and sales, faces increasing environmental issues as its economy grows, hence demand for eco-friendly vehicles is expected to increase. Against this background, the joint venture company will utilize Panasonic's technology and knowhow for the production and quality control of automotive batteries to manufacture them for eco-friendly vehicles.
Panasonic is aiming at ¥2.1 trillion in sales for the automotive business overall, inclusive of infotainment systems and industrial devices in fiscal 2019, ending March 31st, 2019 that is our 100th anniversary. In the automotive business, Panasonic's automotive batteries have an established reputation for their long track record and advanced technological capabilities. The automotive lithium-ion batteries in particular lead the global market, and the company aims at further growth of its automotive business together with the newly-established joint venture company.
