Toyota and Panasonic to set up EV battery joint venture
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TOKYO (Reuters) - Toyota Motor Corp and Panasonic Corp have agreed to set up a joint venture specialising in prismatic electric vehicle batteries.The new company will develop batteries that will be available to any automaker, not limited to Toyota vehicles, the two companies said in a statement Monday. It will begin operation on April 1, with Toyota owning 51% and Panasonic holding the remainder.