Panasonic and Toyota Join Hands to Make Batteries for Electric Vehicles

Amongst the big players of the automotive world, Toyota seems to be the most reluctant in adopting Electric Vehicles or EVs. The still try to rely on Hybrid Technology. This technology, no doubt is great for good fuel economy but don’t exactly address the problem of depleting natural resources. 

However, the latest development from Toyota shows that the Japanese manufacturer is also interested to enter the world of electric vehicles. And who knows, they might completely shift towards that at any point in the future. 

Is Tesla Being Cheated by Panasonic? 

Tesla, an American car manufacturer is getting its batteries for its electric vehicles (EVs) from Panasonic from a long time. However, the internal sources from the Nikkei news agency has revealed that Panasonic has entered an agreement with Toyota in order to make batteries for their electric vehicles, which Toyota plans to launch by 2020. The joint venture will not only produce batteries for Toyota but also for Daihatsu, which is Toyota’s subsidiary. Mazda, which is Toyota’s electric vehicle partner will also get its batteries from Panasonic according to the agreement. 

Panasonic will be transferring the ownership of 5 battery production factories to Toyota according to the agreement. It is being reported that these batteries which will be produced as a result of the joint venture will have 50% more capacity as compare to the batteries Toyota uses in their hybrid vehicles.  

Solid State Batteries 

Combining all the available resources means that more research will be done in order to perfect the technology that is in turn used to manufacture solid-state batteries. 

With this new joint venture between both companies, Toyota will own the 51% of the business while Panasonic will own 49% of the share. This JV will also help in bringing the production costs of these batteries and will help Toyota to achieve their goal pf producing 5.5 million electric cars by 2030. 

Nikkei further said that this joint venture will not have any sort of effect on the regular operations of battery production and supply for Tesla. 

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