Toyota to Combine Housing Unit with Panasonic For Future Town Development

Panasonic and Toyota today inked contracts to set up new JV for future town development business.

Both companies aim to fuse the mobility services initiatives promoted the two companies based on the establishment of the joint venture, the two firms said in the a release.

Kazuhiro Tsuga, President of Panasonic, said: "In the future, in addition to hardware, the provision of improved services supported by technology will assume a more important role in town development that provides value for customers and the local community. "

Akio Toyoda, President of Toyota, said: "From here on out, information will link all items and services that support people's daily lives thanks to the development of CASE, and considering this from a broad, community-level and society-level perspective that includes cars―in other words, working from the concept of 'connected cities'―will become important"

Through the establishment of the joint venture, both companies are committed to contributing to the realization of more attractive towns, making use of Panasonic's knowledge and digital technology related to living, and Toyota's expertise in mobility.