Panasonic is reportedly considering to buy a stake in Ficosa International to expand its automotive parts business.
Panasonic is considering to develop similar driver assistance systems that Ficosa makes and it is also aiming to jointly develop self-driving car technology.
According to The Nikkei newspaper cited by Reuters, Panasonic is planning to invest around $183m-$275m in Ficosa and get 50% stalk in the company.
Panasonic is reportedly restructuring its business and shifting focus away from its present consumer markets and trying to enter into more reliably profitable industrial products, like auto-related goods and Ficosa might be its stepping stone into automotive business.
Source:
http://automobiletechnology.automotive-business-review.com/news/panasonic-looks-to-buy-stake-in-spanish-auto-part-maker-ficosa-250914-4385267
