2. Zoom-out of Masayoshi Shirayanagi, Operating Officer at Toyota Motor Corporation, walking
3. SOUNDBITE (Japanese) Masayoshi Shirayanagi, Operating Officer at Toyota Motor Corporation:
"By providing mobility and livelihood technology from Toyota and Panasonic, housing makers and construction companies can promote and create a new kind of town development. That is the goal of establishing this joint venture."
4. Wide of press conference
5. Wide of people
6. SOUNDBITE (Japanese) Makoto Kitano, Senior Managing Executive Officer and CEO of Life Solutions Company at Panasonic Corporation:
"We want to highly optimise cutting edge technology to provide safe, comfortable and convenient living. At the same time, we aim to create a town that can be updated daily so residents will be satisfied."
Japanese automaker Toyota and electronics giant Panasonic are forming a joint venture combining their housing businesses in Japan to showcase technologies such as connected cars and the internet of things.
Toyota Motor Corp., which offers housing as well as vehicles in Japan, said the new company will offer homes showcasing those technologies.
Panasonic Corp. said its housing subsidiary will become part of the joint venture.
The companies said Thursday the deal should concluded by January 2020.
Both sides said communities will increasingly want connected cars, autonomous driving, car-sharing and ecological vehicles, and homes offering sustainable energy and gadgetry.
Earlier this year, Toyota and Panasonic announced a joint venture to research, manufacture and sell batteries for ecological autos, an increasingly lucrative sector amid concerns about global warming.
The companies have been studying working together on batteries since 2017.