Toyota, Panasonic collaborating on battery production

News Panasonic looks beyond Tesla signs Toyota partnership on electric car battery venture in 2020

News Panasonic looks beyond Tesla signs Toyota partnership on electric car battery venture in 2020

"In order for Japan to survive this era of profound change with no natural resources, we must develop competitive batteries and establish systems for a stable supply", Toyoda said.

Panasonic will transfer equipment, assets and workers from its plants in Japan and China to the joint venture, which will employ 3,500 workers from both companies.

About 15pc of the nearly 10m vehicles Toyota sells annually are either battery powered or have a combination of conventional and electric power systems, with this segment dominated by the Prius hybrid.

Neither company has revealed how much capital is being invested, but confirmed that the venture would be 51% controlled by Toyota.

Marcus Smart fined $35000 for going after Atlanta's DeAndre Bembry
One key reason that the Cavaliers haven't released Smith is due to his contract, which is paying him $14.7 million this year. Smart was ejected from the contest, with both players subsequently taking to social media to challenge each other to a fight.

Toyota Motor Corp. and Panasonic Corp. are setting up a joint venture to research, manufacture and sell batteries for ecological autos, an increasingly lucrative sector amid concerns about global warming. It will also encourage Honda Motor Co to adopt its batteries, according to the sources. As well as being used by Toyota, the batteries resulting from the partnership will be sold to other carmakers through Toyota.

While Panasonic has been a Tier I lithium-ion battery cell supplier for several years, she noted Chinese vendors such as CATL and BYD have been ramping up their battery cell production and gaining market share.

Toyota is set to bring its know-how in the hybrid and electrified space, knowledge of solid-state batteries, and detail about its manufacturing processes to the table, while Panasonic offers scale and a ready-made customer base.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.