Panasonic decided to reduce its stake in PEVE to speed up the process of getting approvals from antitrust authorities in China and the U.S. The planned purchase of Sanyo would hand Panasonic a market share of around 80% in nickel hydride batteries.
Panasonic's decision to decrease its ownership in PEVE is intended to expedite regulatory approvals for the acquisition of Sanyo, which would give Panasonic a dominant position in the nickel-metal hydride battery market.