As one form of the agreement, Panasonic is planning to send hundreds of workers to produce lithium ion batteries. This battery was originally to be used for the Tesla Motors electric car manufacturer.
"We need hundreds of people to begin with," said Yoshio Ito, head of automotive and industrial systems division of Panasonic as quoted by Automotive News, Tuesday (06/09/2015).
Ito added, Panasonic plans to reinvest US $ 478 million, in this fiscal year. A total of US $ 5 billion of these funds will be made to develop the plant.
In addition to Tesla, Panasonic will also spread its wings in cooperation with the manufacturer of auto parts, Ficosa International SA. The company, Panasonic plans to take over the shares more than 50 percent.
Cooperation with other manufacturers this is a long-term strategy of Panasonic in order to compete with larger rivals such as Continental AG from Germany, as well as Bosch and Denso Corp. of Japan.
"In the future we will see the technology that is able to get the data and inform the driver, or even automatic control. In that area we collaborate," added Ito.
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