Matsushita and Toyota Agree to Establish Joint Venture for Ni-MH EV Batteries

Matsushita Electric Industrial Co., Ltd., Matsushita Battery Industrial Co., Ltd. (collectively called "Matsushita"), both of Osaka, Japan, and Toyota Motor Corporation, (TMC), Toyoda Automatic Loom Works, Ltd., both of Aichi, Japan, today announced that they have agreed to establish a joint venture company for the development, manufacturing and Sales of nickel metal hydride (Ni-MH) rechargeable batteries for electric vehicles (EVs).