Toyota and Panasonic team up to advance solid-state battery development

Published: 8 February 2020 - 5:12 a.m.
By: Baset Asaba

Car manufacturer Toyota has taken the controlling stake in a joint venture with electronics company Panasonic to make car batteries.

The Japan-based companies have formed Prime Planet Energy & Solutions, which will take on 5,100 employees, including 2,400 in China. It will focus on the development and manufacture of prismatic lithium-ion batteries, as well as solid-state and “next-generation” batteries.

GlobalData’s power technology writer, Matthew Farmer, says: “This joint venture has been in development since 2017, and was more recently discussed in January 2019. It will begin operations from April, with a total listed assets of $914,700 (¥100M).”

GlobalData’s director analyst of automotive product development Calum MacRae adds:

“This confirms Toyota is fully entering the pure-electric vehicle ring. While it has dabbled before, this signifies it is entering with both feet.

“Panasonic has been its long-term partner for NiMH batteries for its hybrid cars through a joint venture called Primearth Energy.

“Additionally, this joint venture with Toyota has categorically stated its interest in developing solid-state batteries. Just this week Lexus announced its LF30 concept will use solid-state batteries.

“Solid state is a bit of a holy grail for the industry – promising greater storage, faster charging times, enhanced fire safety and reduced production costs. It effectively removes every barrier the market and industry sees for mass adoption of pure electric vehicles.”

Click here to add your comment

Please add your comment below
Your email address will not be published