Definitive agreement on Partnership between Panasonic Holdings Corporation and Apollo Global Management Inc.
Panasonic Holdings Corporation(“PHD”) and Apollo Global Management, Inc.(“Apollo”) signed today a share purchase agreement and a shareholder agreement with respect to business of PAS and released to become strategic partners in PAS’ business.
This is a decision to win global Automotive industry competition through this once-in-a-century transformational period and realize longer term growth.
With the shift to electric vehicles and major changes in vehicle architectures, continuous investment will be necessary to achieve long-term growth in software development and electrification, which will require further enhancement in the future. We believe that we will be able to further accelerate business growth by having Apollo as a partner with capital resources as well as investment experience and know-how in the automotive industry to share our business vision.
We recognize this agreement as a great chance to grow with a high level of competitiveness in rapidly changing automotive industry and to further develop our presence as a global leader in the Automotive Electronics Industry. We will continue to unite our employees to work together with our customers to provide new value to cars and the mobility experience, as a member of the Panasonic Group. We hope you will continue to look forward to our further challenges.
Mar 29th, 2024
Panasonic Automotive Systems Co., Ltd.
Masashi Nagayasu, Representative Director, CEO 
【Panasonic Holdings Press Release】
https://news.panasonic.com/global/press/en240329-6