Toyota Motor Corporation (TM - Free Report) and Panasonic Corporation’s joint venture (JV) has been approved by The European Commission. The JV, set to come into effect from the next year, will be involved in the manufacturing and sale of prismatic automotive batteries along with research and development activities. The collaboration is in addition to the already existing agreement with Panasonic that offers lithium-ion prismatic batteries for Toyota’s vehicles.
Notably, Toyota will own a 51% stake in the JV while Panasonic will own 49%. The JV will provide Toyota with more advanced batteries, thereby ramping up vehicle production to expand its presence in the EV market. The JV also aims to supply batteries to Toyota's EV technology partners, Mazda Motor Corporation (MZDAY - Free Report) and Subaru Corporation.
The deal will capitalize on the strengths of both companies, wherein Toyota will contribute know-how and market data related to EVs while Panasonic will contribute high-quality and extremely safe technologies.
Under the new collaboration with Toyota, Panasonic will transfer its prismatic battery manufacturing equipment and facilities to Japan and China. The shift will be cost-efficient and advantageous for Panasonic, aiding it to grow efficiently in the fast-growing EV market.
The arrangement will help Toyota to deal with the challenge of securing high-quality batteries and boost Panasonic's profit margins.
Toyota is using Panasonic batteries, designed for Tesla (TSLA - Free Report) electric cars, in its plug-in hybrids for the China market. The batteries have been installed in the new Corolla and Levin sedans that Toyota rolled out in China this year. Reportedly, Toyota ordered around 50,000 batteries that boosted Panasonic's battery plant in Osaka to full capacity.
While Toyota’s focus on electric and self-driving vehicles bode well, amplified labor costs, increased raw material costs and declining sales, particularly in North America, remain concerns for this Zacks Rank #3 (Hold) company. You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.
Toyota Motor Corporation Price and Consensus
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Toyota Motor Corporation (TM - Free Report) and Panasonic Corporation’s joint venture (JV) has been approved by The European Commission. The JV, set to come into effect from the next year, will be involved in the manufacturing and sale of prismatic automotive batteries along with research and development activities. The collaboration is in addition to the already existing agreement with Panasonic that offers lithium-ion prismatic batteries for Toyota’s vehicles.
Notably, Toyota will own a 51% stake in the JV while Panasonic will own 49%. The JV will provide Toyota with more advanced batteries, thereby ramping up vehicle production to expand its presence in the EV market. The JV also aims to supply batteries to Toyota's EV technology partners, Mazda Motor Corporation (MZDAY - Free Report) and Subaru Corporation.
The deal will capitalize on the strengths of both companies, wherein Toyota will contribute know-how and market data related to EVs while Panasonic will contribute high-quality and extremely safe technologies.
Under the new collaboration with Toyota, Panasonic will transfer its prismatic battery manufacturing equipment and facilities to Japan and China. The shift will be cost-efficient and advantageous for Panasonic, aiding it to grow efficiently in the fast-growing EV market.
The arrangement will help Toyota to deal with the challenge of securing high-quality batteries and boost Panasonic's profit margins.
Toyota is using Panasonic batteries, designed for Tesla (TSLA - Free Report) electric cars, in its plug-in hybrids for the China market. The batteries have been installed in the new Corolla and Levin sedans that Toyota rolled out in China this year. Reportedly, Toyota ordered around 50,000 batteries that boosted Panasonic's battery plant in Osaka to full capacity.
While Toyota’s focus on electric and self-driving vehicles bode well, amplified labor costs, increased raw material costs and declining sales, particularly in North America, remain concerns for this Zacks Rank #3 (Hold) company. You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.
Toyota Motor Corporation Price and Consensus
5 Stocks Set to Double
Zacks experts released their picks to gain +100% or more in 2020. One is a famous cutting-edge food company that is “hiding in plain sight.” Swamped with competitors and ignored by Wall Street, its stock price floundered. Now, suddenly, it acquired a company that gives it an advantage none of its peers have.
Today, see all 5 stocks with extreme growth potential >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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