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Japan: Panasonic Group to Supply Lithium-ion Batteries for Toyota Prius Plug-in Hybrid

Osaka, Nov 29, 2011 (JCN Newswire via COMTEX) — Expanding the eco-friendly vehicle battery business to plug-in hybrid vehicles

The Panasonic Group today announced that it will supply lithium-ion batteries for Toyota Motor Corporation’s Prius Plug-in Hybrid. This will be the first time for the Panasonic Group to supply its lithium-ion batteries for a mass production plug-in hybrid vehicle.

Given the growing public concern for conserving the environment and escalating oil prices, the demand for rechargeable batteries for eco-friendly vehicles is expected to grow rapidly. In response to this, the Panasonic Group is enhancing its development abilities and strengthening its business for rechargeable batteries for eco-friendly vehicles. The Panasonic Group is already supplying nickel-metal hydride batteries and systems for hybrid vehicles to a number of automobile makers globally and is also carrying out joint development of lithium-ion battery systems for hybrid vehicles with other car manufacturers.

The Panasonic Group is aiming to accelerate the development and commercialization of high performance rechargeable batteries for eco-friendly vehicles and further expand its rechargeable battery business globally.

About Panasonic

Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.69 trillion yen (US$105 billion) for the year ended March 31, 2011. The company’s shares are listed on the Tokyo, Osaka, Nagoya and New York /quotes/zigman/525474/quotes/nls/pc PC +1.32% stock exchanges. For more information on the company and the Panasonic brand, visit the company’s website at http://panasonic.net .

About Sanyo Electric Co Ltd

SANYO ELECTRIC CO., LTD. manufactures electrical appliances and equipment for household and industrial use. The Company’s products include household appliances, audio/video equipment, semiconductor products, and batteries. Sanyo’s industrial equipment includes vending machines and commercial use kitchen appliances. www.sanyo.com

Contact:

Global Public Relations Office
Panasonic Corporation
Tel: +81-3-6403-3040
Fax: +81-3-3436-6766

Global Communications Department
SANYO Electric Co. Ltd
Tel: +81-3-6364-3611
Fax: +81-3-3837-6271
Source marketwatch.com

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