Toyota-Panasonic JV to Start Manufacturing of Prismatic Lithium-ion Batteries

• Prime Planet Energy a JV of Toyota as well as Panasonic, has actually introduced it will certainly start production of prismatic lithium-ion batteries for hybrid cars in Japan

Prime Planet Energy & Solutions, a joint venture (JV) firm of Toyota Motor Corporation as well as Panasonic, has announced that it will certainly start manufacturing of prismatic lithium-ion batteries for hybrid lorries in Tokushima Prefecture of Japan.

To this end, the company has announced that it will certainly develop a brand-new battery assembly line within the existing Tokushima manufacturing facility of the Energy Solutions Business Division, Industrial Solutions Company, Panasonic Corporation.

The firm mentioned that "as electrification of automobiles is a need to in tackling ecological problems such as global warming and air pollution, the international electric automobile market is expected to proceed proliferating. This growth in production capability is an action that allows Prime Planet Energy & Solutions to manage the growing demand for prismatic lithium-ion batteries for hybrid automobiles."

The assembly line at a Panasonic manufacturing facility in Tokushima prefecture will certainly have enough capability to construct batteries for around 500,000 lorries a year, the company has validated.

The JV began operations in April 2020 as a joint venture for automotive prismatic batteries (possessed 51 percent by Toyota Motor Corporation and also 49 percent by Panasonic Corporation). The principle was first visualized in December 2017, when Toyota Motor Corporation and also Panasonic Corporation agreed to begin researching the feasibility of a joint vehicle prismatic battery business.

It was introduced that the JV will certainly create highly affordable, affordable batteries that are secure and attribute superb high quality and also performance (in terms of capacity, result, longevity, and so on), allowing use with peace of mind by all clients. Moreover, the joint endeavor will provide batteries not only to Toyota however also, generally and also stably, to all consumers.

Secret operations the JV will certainly be involved in are:

• Advancement, manufacture, and also sales of high-capacity and high-output vehicle prismatic lithium-ion batteries,
• Growth, manufacture, as well as sales of vehicle solid-state batteries,
• Development, manufacture, and also sales of next-generation auto batteries besides those discussed above (consisting of batteries based on new principles),.
• Ancillary and also other procedures related to the above.