Toyota, Panasonic May Produce Electric Vehicle Batteries in Turkey

Japanese giants Toyota and Panasonic which announced four months ago they will be teaming up to make electric vehicle batteries next year are reportedly preparing to establish a firm in Turkey.

Toyota and Panasonic were given permission for the setting up a joint venture that will undertake research and development (R&D) activities related to other automotive battery technologies, according to a report.

Both companies are expected to gain from this joint venture and the prices are expected to go low for the local electric cars.