Toyota and Panasonic intend joint development of electric vehicle batteries

Toyota Motor Corp and Panasonic Corp. stated that are considering making batteries for electric vehicles (EV) in joint cooperation , as Toyota aims battery development to help meet its goal for green cars to comprise half of global sales by 2030. It is planned to expand development of prismatic - flat, pouch-shaped - batteries with higher energy density.

This joint announcement builds on an existing agreement between the two companies under which Panasonic which is global market leader for automotive lithium-ion batteries - makes batteries for Toyota’s petrol-electric and plug-in hybrid vehicles.

Toyota’s battery needs are expected to increase because Toyota plans to add fully electric vehicles to its product line-up in the early 2020s, expanding a green-car strategy.

Toyoda stated that its annual sales target for petrol-electric and plug-in hybrids is 4.5 million vehicles by 2030, and 1.0 million units for EVs and FCVs.


To that end, Toyota in September last year formed an EV technology venture with Mazda Motor Corp and supplier Denso Corp . This venture reflects a trend of automakers and components makers to partner in developing the next generation cars, for reducing the overall costs for research, development and manufacturing.

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