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.