Feb 05, 2016

Company / Press Release

Joint Venture Company Established to Manufacture Automotive Batteries in Dalian, China

Meeting the growing demand for automotive batteries for eco-friendly vehicles.

Osaka, Japan - Panasonic Corporation has this time established a joint venture company to manufacture automotive batteries in China, together with Dalian Levear Electric Co., Ltd. (People's Republic of China (PRC); Chairman: Guochen Liu Board Chairman of Panasonic Automotive Systems Dalian Co., Ltd. (PASDL) and Dalian Levear Electric Co., Ltd.).

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.

The joint venture company will gain the support and cooperation of the relevant authorities and intends to begin production from 2017.

Overview of the Joint Venture Company

Name Panasonic Automotive Energy Dalian Co., Ltd.
Begins production 2017 (provisional)
Headquarters location Dalian City, Liaoning, People's Republic of China
Business operations Design, manufacture, sales, after-sales services and import-export operations for automotive batteries.
Production items Lithium-ion batteries for eco-friendly vehicles
Legal capital 273 million RMB
Capital ratio Panasonic Corporation: 50%. Dalian Levear Electric Co., Ltd: 50%
Representative Directors Chairman: Guochen Liu Board Chairman of PASDL and Dalian Levear Electric. CEO: Nobukazu Yamanishi

About Panasonic

Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries. Since its founding in 1918, the company has expanded globally and now operates 468 subsidiaries and 94 associated companies worldwide, recording consolidated net sales of 7.715 trillion yen for the year ended March 31, 2015. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic look at our website: http://www.panasonic.com/global.

Media Contacts:

Public Relations Department
Panasonic Corporation
Tel: +81-(0)3-3574-5664 Fax: +81-(0)3-3574-5699
Panasonic News Bureau
Tel: +81-(0)3-3542-6205 Fax: +81-(0)3-3542-9018

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