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Report: Panasonic to build Shanghai hub to boost ties with local tech businesses

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Report: Panasonic to build Shanghai hub to boost ties with local tech businesses

Panasonic Corp. is set to build a collaborative laboratory in Shanghai in January to co-develop new technologies and strengthen its partnerships with Alibaba Group Holding Ltd., Baidu Inc. and other local tech giants, the Nikkei Asian Review reported Jan. 13.

The Japanese consumer electronics-maker expects the move to create the next wave of its core businesses, the report said.

The Shanghai lab, which follows Panasonic's similar lab in Silicon Valley in 2017, will consist of 10 to 20 employees from Panasonic's existing Chinese operations, the report said. They will focus on areas such as appliances and housing.

Panasonic already forged partnerships with Alibaba in marketing appliances and with Baidu in developing instrument panels for next-generation vehicles, the report said.