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Toyota and Panasonic team up for smart homes

(Image credit: Photo Credit: bergserg/ Shutterstock)

Toyota and Panasonic are teaming up to bring new connected services for smart homes and smart cities

In a joint announcement, the Japanese comapnies said they would be establishing a new company early next year focused on building personalised home services.

“We will put our respective strengths together to offer new value in everyday life,” Panasonic President Kazuhiro Tsuga said in a joint statement on Thursday, noting that the two firms would be equal partners in the new venture.

Toyota has been building smart cars that track and share usage data, something that can prove to be useful in today’s sharing economy. Insurance and maintenance companies would also benefit from this approach.

“If we are able to use this network going forward not only to manufacture and sell vehicles but to also provide new services, our future possibilities will greatly expand,” President Akio Toyota told reporters on Wednesday.

“In addition to cars, I think that having our own housing business and connected business will be a big advantage for us.”

This is not the first time the two companies joined forces to offer new services and stay competitive in an increasingly transforming market. In January, they announced they’d be working together to build batteries for electric cars.

Electricity-powered cars are a growing trend all around the world, as the effects of global warming and increased levels of carbon monoxide in the atmosphere become more and more visible.

Photo Credit: bergserg/ Shutterstock