Matsushita and Toyota
Establish Panasonic EV Energy Co., Ltd.
for Ni-MH EV Batteries

Matsushita Electric Industrial Co., Ltd. (MEI), Matsushita Battery Industrial Co. (MBI), Ltd. (collectively called "Matsushita"), both of Osaka, Japan, and Toyota Motor Corporation ("TMC") of Aichi, Japan, today announced that they have established Panasonic EV Energy Co., Ltd. for the development, manufacturing and sales of nickel metal hydride (Ni-MH) rechargeable batteries for electric vehicles (EVs).