Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of the clues! CTOnews.com, November 20, Panasonic Holdings announced on November 17 that Panasonic Automotive Electronic Systems (Panasonic Automotive Systems), which plans to be involved in auto parts, has reached a basic agreement to sell to the group managed by Apollo Global, a large US investment fund.

Panasonic had better make it easier to secure new means of financing for long-term growth, according to an official statement. After the sale of the shares, Panasonic Automotive Electronic Systems will retain the company name and brand as a member of Panasonic.

It is expected that upon completion of the sale, Panasonic Automotive Electronic Systems will be transformed from a wholly owned subsidiary of Panasonic Holdings into a company subject to equity law, with a view to signing a formal contract by the end of March 2024.

Panasonic Automotive Electronics system has an operating income of 1.2975 trillion yen (CTOnews.com Note: currently about 62.539 billion yuan) and about 30, 000 employees.

According to the Nikkei, Panasonic Holdings takes air-energy air conditioning and supply chain management systems, such as pure electric car batteries, heat pump heating for Europe, as growth areas. The equipment investment plan for 2023 is 700 billion yen (currently about 33.74 billion yuan), which is expected to set an all-time high. Of the 700 billion yen, 381 billion yen (currently about 18.364 billion yuan) will be spent on battery-related areas, accounting for more than half.

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