The automaker is betting that its cars will appeal to younger Japanese buyers who are also more open to trying South Korean imports, thanks to the local success of electronics brands and hip Korean culture.

The alliance partners, together with Mitsubishi, are expected to launch more than 30 new full-electric models by 2030 on five common platforms and invest more than $23 billion on EVs.

In ramping up regional output to meet booming demand for EVs, Panasonic also aims to increase localized sourcing of battery materials, targeting a 50 percent local procure rate.

A Japanese battery start-up is launching a commercial fleet service using Geely EVs.