Toyota And Panasonic To Co-Develop Much Higher Capacity EV Batteries

Toyota and Panasonic intend on forming a joint venture for the development of electric vehicle batteries, a new report has revealed.

Nikkei Asian Review reports that the joint venture will be established next year and that Toyota will hold a 51 per cent stake and Panasonic the rest. The joint venture will see Panasonic move five of its existing automotive battery production facilities in China and Japan to this new company.

It is reported that the two companies intend on creating batteries with 50 times the capacity of those currently used in most hybrid vehicles.

Toyota won’t be the only automaker to benefit from these batteries. In fact, they will also be supplied to Mazda, Daihatsu and Subaru. It’s also possible that Honda could make use of the advanced, high-capacity batteries also.

The joint venture won’t just see Toyota and Panasonic develop and produce more advanced lithium-ion batteries but will also involve a partnership aimed at developing the next-generation of batteries, including solid-state cells. We’ve known about Toyota and Panasonic’s shared interest in solid state batteries after they reached a separate deal in 2017 to explore the technology.

Toyota believes that through its partnership with Panasonic it will be able to drastically cut the cost of battery production and catch up to Volkswagen with a comprehensive offering of all-electric models in the coming years. By 2030, the Japanese automaker hopes to be selling 5.5 million electrified vehicles annually.

Panasonic isn’t new to working with automakers on EV batteries, and already works with Tesla on its battery packs.

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  • Steve Cohn

    “It is reported that the two companies intend on creating batteries with 50 times the capacity of those currently used in most hybrid vehicles.”

    Did I read this correctly? 50 times?! Battery technology will not improve that fast. This must be a misprint.

  • Сафиуллина-Мохамед Рамазанов

    50 times is like dreams come true than mean 5000 miles instead of 100!!!!!

  • Six Thousand Times

    If somebody really cracks the solid-state code, it really will be it for the good ol’ ICE.

  • ThatGuy

    The conspiracy theorist in me is like, wait, Toyota have been doing this for over a decade now, and somehow they probably knew how to do it years back, but if you release cars each year with a extra bit of range each new gen model we keep making that corporate money than give people this tech long ago and range anxiety and price would not be an issue as economies of scale would have played out and it would be dirt cheap in present day.

    Or its very new and good on you big T

  • Mike pHuckabee

    How many of these battery stories have we heard over the last decade? However this is Panasonic. I sure hope Tesla has a similar agreement for advanced batteries. They are already gigafacrory partners.
    And yes it would be the end of ice cars.

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