Matsushita Electric to Establish Car Electronics Companies in China

Tokyo (JCNN) - Matsushita Electric Industrial announced on March 30 that its in-house company Panasonic Automotive Systems (PAS) will establish Panasonic Automotive Systems (China) (PASCH) as an in-house company of Panasonic China, and Panasonic Automotive Systems Sales (China) (PASSCH) as an in-house company of Panasonic Industry China on April 1.

Both in-house companies will be headquartered in Shanghai.

PASCH will supervise the operations of Panasonic Automotive Systems Development (Tianjin), a car electronics development company, Panasonic Automotive Systems Dalian, a manufacturing arm, and sales company PASSCH, in order to promote Matsushita's car electronics business in China in an integrated fashion.

Automobile sales reached 5.07 million units in 2004, up 15.5% year-on-year, while automobile production there also rose 14.1% year-on-year to 5.07 million units.