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This article is more than 2 year old.

Toyota, Panasonic to set up firm to connect cars, homes

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The firms will announce the creation of a new company that would focus on technology that could be used in urban planning.

Toyota, Panasonic to set up firm to connect cars, homes
Toyota Motor Corp and Panasonic Corp are set to announce plans to establish a joint company to "connect" cars and homes, Kyodo news reported on Thursday, ahead of a joint news conference by the two companies in Tokyo.
The firms will announce the creation of a new company that would focus on technology that could be used in urban planning, Kyodo said, without citing sources. The companies confirmed that they would hold a joint news conference at 11:30 am (0230 GMT) but have not elaborated.
Toyota has been developing a network of connected cars that can share information on vehicle usage and diagnostics - information that could be leveraged for on-demand ride-sharing, insurance and maintenance.
A tie-up would deepen the partnership between Toyota and Panasonic. The two announced a joint venture to build electric-vehicle batteries in January, pooling the R&D and manufacturing strengths of one of the world's largest automakers and battery makers to compete in the fast-growing EV market.