Toyota will partner with China’s Contemporary Amperex Technology to supply and develop batteries for a number of new energy vehicles.
Last Wednesday the Japanese car manufacturer revealed that it has also started talks to cover a number of other battery-related projects, including new technological development as well as the reuse and recycling of batteries, Reuters reports.
“To further promote the widespread use of electrified vehicles, CATL and Toyota agree that a stable supply of batteries is critical and that battery technology must be further developed and advanced,” Toyota said in a statement. “To this end, the two companies intend to establish joint systems and engage in specific initiatives together.”
Toyota is aiming for half of its global sales to come from electrified vehicles by 2025 and in addition to forging a partnership with CATL, announced last week that it will develop and produce battery electric vehicles with BYD aimed at the Chinese market.
While BYD may be unfamiliar to some, the company’s sales of BEVs and PHEVs have been ranked first in the world for four straight years. The first vehicles co-developed by Toyota and BYD will hit the market in the first half of the 2020s and be sold under the Toyota brand.
As for CATL, it is an industry leader in the world of electric vehicle batteries and has already inked supply deals with the likes of Honda and Volvo.