Toyota and Panasonic have announced their intention to study the feasibility of a battery joint venture. The biggest supplier of electric-car batteries and Toyota together are exploring the development of prismatic cells, and the collaboration will incorporate solid-state batteries, the two companies said at a news conference in Tokyo on Wednesday.
The technology needs to get pace in a few regions of the automotive industry to create higher-capacity batteries suited to improving the driving range of electric vehicles. The agreement between the two companies shows that they will analyze prismatic battery usage across the automotive world and look to lowering their price while raising the bar on performance and safety.
Toyota and Panasonic particularly said prismatic cell batteries for electrified cars, suggesting the batteries will be utilized for hybrid and plug-in hybrid vehicles. Prismatic batteries have bundling and cost benefits compared to more conventional cylindrical cell designs. Toyota is additionally thought to be developing more advanced solid-state batteries for its first volume electric car due early next decade.
"Panasonic is a leading company in the area of automotive batteries. I think it was the 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 realization of automotive prismatic batteries" said Toyota boss, Akio Toyoda.
While, another crucial aspect of the venture is to consider methods for making a stable supply chain amidst growing fears of shortages, as well as addressing concerns around the ethics of collecting the elements needed to make these batteries. To this end, the association intends to help the generation of EVs globally, rather than staying exclusive to Toyota or Lexus hybrids and EVs.
Toyota and Panasonic have cooperated since 1953. Panasonic's traditional batteries are already broadly utilized across the automotive industry in EVs - including different hybrid models produced by Toyota.
