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Toyota, Panasonic form joint venture in housing for Japan

May 08, 2019 - 10:30 pm

TOKYO (AP) — Japanese automaker Toyota and electronics maker Panasonic are forming a joint venture combining their housing businesses in Japan.

Toyota Motor Corp., which offers housing as well as vehicles in Japan, said the new company will offer homes showcasing technology such as connected cars and the internet of things.

Panasonic Corp. said its housing subsidiary will become part of the joint venture. The companies said Thursday the deal will be concluded by January 2020.

Both sides said communities will increasingly want connected cars, autonomous driving, car-sharing and ecological vehicles.

Earlier this year, Toyota and Panasonic announced a joint venture to research, manufacture and sell batteries for ecological autos, an increasingly lucrative sector amid concerns about global warming.

The companies have been studying working together on batteries since 2017.

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