Toyota, Panasonic thinking about joint development of EV batteries

Toyota, Panasonic thinking about joint development of EV batteries

The statement concluded: "Toyota and Panasonic recognise the importance that further advancements in battery performance, price and safety, as well as a stable supply capacity, will have on encouraging further popularisation of electrified vehicles".

Toyota Motor Corp. and Panasonic Corp. on Wednesday announced their agreement to team up in batteries for electric-powered vehicles.

According to the Tribune report, an inspector from the Indiana Department of Environmental Management visited U.S. Steel last month, when plant managers told the inspector they decided not to test for hexavalent chromium in the water. "That's why we're looking for Panasonic and other companies to help us establish ever-better cars and batteries".

Mr. Toyoda said regulatory changes and the speed of battery development would determine how quickly EVs spread. The deal is meant to address growing demand and expectations for electrified vehicles.

"It would be hard for us to meet our 2030 goals offered the current pace of battery advancement".

In Panasonic, Toyota is partnering the main battery supplier of major US EV maker Tesla.

Collaboration will also bring technological benefits.

Toyota Motor Corp President Akio Toyoda (L) and Panasonic Corp President Kazuhiro Tsuga attend a photo session after a joint news conference in Tokyo, Japan, December 13, 2017.

To that end, Toyota in September formed an EV technology venture with peer Mazda and supplier Denso. But the company has lately broadened its strategy to include electric vehicles, as well as the plug-in hybrids it already produces.

In 2030, Mr. Toyoda said, Toyota projects selling about 5.5 million vehicles in those categories together, or half of total projected sales. Electric and fuel cell vehicles alone are seen selling 1 million units each year, up from almost zero now.

The pair plan to expand development of prismatic - flat, pouch-shaped - batteries with higher energy density.

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