Toyota and Panasonic have just announced an agreement to begin studying the feasibility of a joint automotive prismatic battery business. It’s intended to address the growing demand and expectations for electrified vehicles. Both Japanese giants are targeting further advancements in automotive batteries, which is the heart of an EV.
Hybrid champion Toyota is no stranger to green technology, but like many carmakers, it was caught slightly flat-footed by the current electric wave. The company is now working on the development of a full range of environmentally friendly vehicles including hybrids, plug-in hybrids, fuel-cell vehicles and EVs. Toyota previously bet on hydrogen-powered FCVs like the Mirai being the future, instead of EVs.
Panasonic has positioned automotive lithium-ion batteries as one of its key businesses, and the firm’s EV batteries are used by many automakers worldwide (it’s currently the market leader). The electronics company is making efforts to further enhance the safety and capacity of its automotive prismatic batteries.
Toyota and Panasonic, which started their business relationship in 1953, recognise the importance that further advancements in battery performance, price and safety, as well as a stable supply capacity, will be crucial in the popularisation of EVs. Recently, Toyota got into an agreement to jointly develop basic structural technologies for electric vehicles with Mazda and Denso.
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He he he. It’s Gud to be Rich & famous like Toyota. U can buy over or JV with any company U want given that U are filthy rich. Toyo are working with so many company namely JV with BMW, Subaru, Mazda & now Panasonic.
How I wish we(P1) have a Godfather like Toyo so that we don’t have to pay for R&D to the tune of billions & still cannot see the light at the end of the tunnel. Sob sob.
now Toyota got Panasonic onboard, who still need a Panamera. Wootz