Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« GM: Volt is On Schedule | Main | US to Provide Up To $17.4B in Loans to GM and Chrysler »

Print this post

Panasonic Buying Sanyo for $9B; HEV and EV Batteries an Important Focus

19 December 2008

Panasonic Corporation and Sanyo Electric Co., Ltd. have finalized the terms of Panasonic’s acquisition of Sanyo. (Earlier post.) Panasonic is launching a public tender offer at ¥131 per share of common stock and ¥1,310 per share of preferred stock, resulting in a deal worth about US$9 billion. The companies say they will form a close alliance in business with the prospect of organizational restructurings of both companies.

Batteries are one of the primary areas of benefit for Panasonic. The acquisition will, among other things, catapult Panasonic’s share of the rechargeable battery market to 38% from 10% this year, according to a Goldman Sachs analyst report. Panasonic, which currently provides NiMH packs to Toyota and is developing Li-ion packs through its PEVE joint venture, says that it will make active investments in batteries for HEVs (hybrid electric vehicle) and EV (electric vehicles).

Sanyo has established its status as a leading company in the rechargeable battery business focused on lithium-ion rechargeable batteries. In addition, Panasonic has utilized its original black box technology and expanded its business globally. By making this alliance, the companies will further strengthen both of their competitiveness through, among others, the introduction of Sanyo’s excellent production technology to Panasonic and the provision of Panasonic’s high-capacity technology to Sanyo.

...together as the Panasonic Group, it is believed that collaboration with automakers can be strengthened and sales significantly expanded.

—Panasonic statement

Sanyo currently provides NiMH batteries for Ford and Honda HEVs, is co-developing next-generation NiMH systems with Volkswagen, and is also working on Li-ion systems.

Another primary area of synergy, according to Panasonic, is in solar cells. The two will expand current business in the area of highly efficient HIT (crystalline silicon) solar photovoltaic cells and modules and accelerate development and commercialization of next-generation solar cells.

December 19, 2008 in Batteries | Permalink | Comments (5) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef01053688405d970c

Listed below are links to weblogs that reference Panasonic Buying Sanyo for $9B; HEV and EV Batteries an Important Focus:

Comments

As another user noted the other day - this is why Honda is getting friendly with a new battery manufacturer.

Many car manufacturers are taking the same road.

The only exceptions seem to be the Big-3. Is it because they don't expect to need batteries?

USABC. GM partners with LG, A123 with Chrysler, and Ford is partnered with Johnson Controls, Saft. Stay tuned Harv.

You know what's really scary? Panasonic is planning to spend $1.1 billion on building battery manufacturing in 2009. That's more than the entire US battery industry.

You know what's really scary? Panasonic is planning to spend $1.1 billion on building battery manufacturing in 2009. That's more than the entire US battery industry.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2013 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group