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Toyota and Panasonic to collaborate for electrification

Toyota and Panasonic to collaborate for electrification

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.

According to Reuters, Toyota and Panasonic are considering joining forcing in developing electric batteries for vehicles.

The target came as Toyota kicked off talks with electronics giant Panasonic over a possible tie-up to develop, produce and recycle automotive batteries.

The strategy to co-operate more closely on batteries comes as automakers contend to develop more EVs in compliance with tightening policies worldwide to reduce vehicle emissions. Mr. Toyoda said underlings might scold him afterward for releasing a specific figure, but he said he wanted to stress the industry's rapid shifts.

In 2030, Mr. Toyoda said, Toyota projects selling about 5.5 million vehicles in those categories together, or half of total projected sales. These will include solid-electrolyte batteries, a next-generation technology that is safer than traditional liquid-electrolyte cells that Panasonic now makes for USA electric-car maker Tesla.

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"Panasonic is a leading company in the area of automotive batteries".

Toyota said the automaker's 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. Toyota and Panasonic already make batteries for the automaker's gasoline-electric hybrids through a joint venture, Primearth EV Energy.

Toyota and Panasonic jointly announced an agreement to begin studying the feasibility of a joint automotive prismatic battery business. With a 29 per cent market share, Panasonic is the world's biggest supplier of batteries for plug-in hybrids and EVs, showed January-June data from Nomura Research.

Toyota in September established an EV technology venture with peer Mazda Motor and provider Denso.

Meanwhile, Panasonic has positioned automotive lithium-ion batteries as one of its key businesses, and its automotive batteries are used by many automakers worldwide.