Toyota and Panasonic look into automotive battery business
As electrified cars’ hunger for batteries increases, Toyota and Panasonic are considering a joint venture to produce prismatic batteries
The collaboration will also further develop next-generation solid-state batteries, as that technology picks up pace in several areas of the industry due to a potential higher capacity that would be suited to longer-range electric vehicles.
Toyota and Panasonic have worked together since 1953 and Panasonic’s traditional batteries are already widely used across the automotive industry in EVs, including in various hybrid models produced by Toyota.
The agreement means the two companies will analyse prismatic battery use across the automotive world, looking to lower their price and raising their performance and safety.
Another crucial aspect of the venture is considering how to make supply stable amid growing fears of shortages and concerns around the ethics of collecting the required elements to make the batteries. For this reason, the partnership aims to aid the proliferation of EVs globally, rather than simply Toyota or Lexus hybrids and EVs.
“Panasonic is a leading company in the area of automotive batteries. I think it was fate for us to come together to work for this collaboration. We would like to offer opportunities to work together with other companies with the collaboration for the realisation of automotive prismatic batteries,” said Toyota boss Akio Toyoda.
Source: Autocar Online