Panasonic to Sell Part of Automotive Systems Division to Apollo Global Management

The electronics giant emphasizes the need for continued investment in the division, especially in software development and electrification.

Panasonic Holdings Corp has announced plans to sell a portion of its automotive systems division to funds managed by Apollo Global Management.
Both parties have signed a memorandum of understanding (MOU) and aim to finalize the agreement details by March 31, 2024.
Panasonic Automotive Systems Corporation provides advanced technologies, such as infotainment systems, that contribute to creating a comfortable, safe, and secure vehicle.
Panasonic emphasized the need for continued investment in its automotive systems business to foster sustainable growth, especially in software development and electrification.
Panasonic is also contemplating a potential future listing of this business segment.