The two companies aim to combine their strengths in mobility and home appliances and the IoT to deliver the "ideal lifestyle" for each customer.
Panasonic Corporation and Toyota Motor Corporation have announced a joint venture focusing on housing and town development.
The companies seek to fuse mobility services and lifestyle initiatives to create new value for towns and deliver "the ideal lifestyle" for each customer.
In the housing sector, in which market competition is anticipated to intensify, the two companies will reinforce their presence through the integration of their respective housing businesses to form the Prime Life Technologies Corporation.
In the town development business, Panasonic claims, together with various companies, it has led the development of sustainable smart towns (SST) as advanced models of town development.
According to Panasonic, these have drawn “considerable attention” both inside and outside Japan as successful examples of cutting-edge town development.
Meanwhile, Toyota has been proceeding with the construction of a mobility service platform (MSPF) while enhancing the development of connected cars. The aim is to realise an unrestricted, safe and comfortable mobility society for everyone, and promote various big data initiatives to benefit both customers and society.
"The provision of improved services supported by technology will assume a more important role in town development that provides value for customers and the local community”
In addition, Toyota said it has been collaborating with various domestic and overseas companies to create new mobility services.
“In the future, in addition to hardware, the provision of improved services supported by technology will assume a more important role in town development that provides value for customers and the local community,” said Kazuhiro Tsuga, president of Panasonic.
“Toyota has been leading the mobility field, and Panasonic has long been serving lifestyle needs of people. We will put our respective strengths together to offer new value in everyday life.
"Through this collaboration, Panasonic will further challenge itself to continue advancement in the town development business, aiming to deliver the ‘ideal lifestyle’ for each customer.”
Through the joint venture, both companies are committed to contributing to the realisation of more attractive towns, making use of Panasonic’s knowledge and digital technology related to living, and Toyota’s expertise in mobility.
“From here on, information will link all items and services that support people’s daily lives thanks to the development of ‘CASE’, [connected, autonomous, shared and electric]. And considering this from a broad, community-level and society-level perspective that includes cars – in other words, working from the concept of connected cities – will become important,” added Akio Toyoda, president of Toyota.
“In order to realise this, I believe that it is important to have a spirit of cooperation with friends and allies, while sharing our goals regarding what kind of future we want to create.”
He continued: “I want to take on the challenge of providing a new kind of lifestyle, based on the spirit of always wanting to be better and better, while bringing together the strengths of Toyota, with its vehicle business and connected business, and Panasonic, with its home appliance business, battery business, and IoT business, and enhancing our competitiveness."
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