Panasonic co-develops batteries with Toyota
With the global demand for EVs growing, Toyota Motor Corp. and Panasonic Corp. are considering the joint development of batteries. The biggest Japanese OEM wants to have the best possible battery technology for its upcoming EV offensive, while Panasonic could benefit from the partnership through economies of scale and shared R&D costs.
Panasonic is the world’s largest EV battery supplier, detaining a market share of 29 percent. Runner-up LG Chem has 13 percent of the market. Panasonic already provides lithium ion batteries and nickel-metal hydride batteries for Toyota. It is also the biggest supplier for Tesla. It builds battery cells for the Californian EV maker in the latter’s Nevada-based Gigafactory.
Panasonic sees revenue of its automotive revenue nearly double to €20 trillion per annum by March 2022. New production lines are to be added in China and Japan to expand capacity. It is also on these two markets that Toyota will launch its future EVs first.
In the US. Toyota will be building a factory together with compatriot company Mazda to produce both conventional and electrified vehicles. Toyota would provide the battery technology, while Mazda focuses on the ‘packaging’. In India, TMC is working together with Suzuki, which holds a strong position on that market.
Picture copyright: Toyota, 2017