Statements from both companies demonstrate their willingness to combine their respective competencies to create a new value proposition. Toyota is massive player in the mobility and connected vehicles field, while Panasonic's strengths lie in its connected home appliances and IoT business.
The partnership is the latest venture between the two Japanese companies. Earlier this year, Toyota and Panasonic announced a joint venture that will pull manufacturing and R&D strengths of both companies to build EV (electric vehicle) batteries.
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