Source: Gasgoo
According to “Automotive News”, the Japanese carmaker Mazda and Pansonic Energy announced that they have signed the agreement on a car battery supply. Panasonic Energy pointed that it will show specific details of the cooperation on the supply of cylindrical lithium-ion batteries in a joint statement.
In addition, the Panasonic Group announced plans to sell its entire stake in Panasonic Automotive Electronic Systems (PAS) to a fund managed by U.S. private equity firm Apollo Global Management.
Image source: Panasonic Energy
PAS is the 19th largest automotive supplier in the world, with infotainment systems and other components that help build comfortable, safe and reliable vehicles. It contributed about 15% of Panasonic Group’s sales in the last fiscal year ending March 2023.
The total enterprise value of the transaction is estimated at 311 billion yen ($2.06 billion), with the specific value subject to adjustment upon closing, which is expected by the end of the first quarter of 2025, Apollo said in a statement.
Panasonic also said it would acquire a 20 percent stake in Star Japan Holdings, which will become the owner of PAS ‘new parent company. In its statement, Apollo stressed that the Panasonic Automotive business unit will continue to maintain its strategic partnership with the Panasonic Group.
In addition, Panasonic Group announced that its subsidiary Blue Yonder will pay $839 million to acquire the U.S. digital supply chain provider “One Network Enterprises”, which is expected to complete in the third quarter of 2024.
According to “Automotive New”, Panasonic Automotive Systems ranked 19th with global sales of $14.2 billion in top 100 global auto-parts suppliers list. Half of its revenue comes from the North American market.
