PEVEPanasonic Electric Vehicle Energy Co. Ltd. (Japan)
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Cobasys said the companies have also agreed to evaluate the feasibility of assembling PEVE battery packs at the Cobasys Springboro, OH manufacturing facility.
PEVE is the world's leading producer of nickel-metal hydride batteries for automotive drive applications, having surpassed two million units in total production volume.
rechargeable nickel metal-hydride batteries for automotive use, the Company will implement measures agreed with the Ministry of Commerce of China necessary for eliminating the influence by the Company on the business concerning rechargeable nickel metal-hydride batteries for automotive use conducted by PEVE.
8,000,000 income resulting from a distribution from our joint venture Cobasys representing a partial reimbursement of legal expenses related to the settlement agreement in July 2004 with MEI, PEVE and Toyota.
Under the terms of the expanded agreement, Cobasys and PEVE will continue to cross license each other for current and future patents through 2014.
The year-end results exclude the funds received under the battery settlement with MEI, PEVE and Toyota, which will be recorded in the first quarter of fiscal year 2005.
Panasonic EV Energy (PEVE) and Toyota Motor Corporation provides for technical cooperation between Cobasys and PEVE and offers important advantages for Cobasys in North America.