Toyota, Panasonic setting up EV battery JV amid rising China competition January 21, 2019

Toyota Motor Corp (7203.T) and Panasonic Corp (6752.T) are set to launch a joint venture next year to produce batteries for electric vehicles (EV) in an effort to compete with Chinese rivals, a source familiar with the matter said.

The joint venture, to be owned 51 percent by Toyota and the rest by Panasonic, could also provide batteries to Toyota’s EV technology partners Mazda Corp (7261.T) and Subaru Corp (7270.T), the source said on Sunday.

The source declined to be identified because the talks on the joint venture are private.

A joint venture would build on the agreement that the pair announced in late 2017 on joint development of batteries with higher energy density in a prismatic cell arrangement.

A Toyota spokesman said the two companies have been working on the battery partnership announced in 2017 and declined to comment further. Panasonic made the same comment in a statement.

The two companies may announce the joint venture plan as early as this week, according to the source.

The battery joint venture will help Toyota achieve an annual sales target of around 1 million zero-emission battery EVs and fuel-cell vehicles by 2030.

It will also give Panasonic cost and scale advantages in battery production at a time when China’s Contemporary Amperex Technology (300750.SZ) has grown to be on par with the long-time industry leader on the back of the rapidly growing home market.

FULL ARTICLE: Toyota, Panasonic setting up EV battery JV amid rising China competition: source

Latest News &
Announcements

All our latest news, speeches, announcements, presentations and media releases from Orocobre Limited. The best way to stay up to date is to sign up for our newsletter.

  • Orocobre Market Update – Online Briefing

    Orocobre Market Update – Online Briefing

    To listen to a recording of Orocobre’s latest teleconference webcast briefing, where Managing Director & CEO Mr. Martín Pérez de Solay discusses the Quarterly Activities Report for the period ended 31 March 2019, click on the media player below.
  • Sorry, graphene — borophene is the new wonder material that’s got everyone excited

    Sorry, graphene — borophene is the new wonder material that’s got everyone excited

    Stronger and more flexible than graphene, a single-atom layer of boron could revolutionize sensors, batteries, and catalytic chemistry. Not so long ago, graphene was the great new wonder material. A super-strong, atom-thick sheet of carbon “chicken wire,” it can form tubes, balls, and other curious shapes. And because it conducts electricity, materials scientists raised the... View Article
  • Orocobre MD/CEO speaks with The Australian

    Orocobre MD/CEO speaks with The Australian

    The Australian | PAUL GARVEY, RESOURCES REPORTER: Much like the lithium market itself, miner Orocobre has proved to be a volatile beast. The Brisbane-based company was at the forefront of the push to bring new sources of lithium on to the market in anticipation of the electric vehicle revolution. It was the first of the... View Article

Be the first to know.
Subscribe Now.

We will never sell or share this information to anyone. Privacy Policy
© 2019 Orocobre Limited Pty Ltd