The expected ongoing expansion of the electric and hybrid car market in the coming years has led Toyota to agree on a joint feasibility study with Panasonic aimed at a possible partnership in building a next-generation-battery assembly plant.
The two companies are already strongly focused on developing solutions to counter climate change, and in fact their commercial ties date back to 1953, with each pushing the other to push back the boundaries of technology and improve their manufacturing processes.
In 1997, Toyota launched its Prius, the world’s first mass-production hybrid car; in 2014, it introduced one of the first fuel cell powered vehicles, the Mirai. The company’s third-generation hybrid system has attained unprecedented levels of efficiency and delivers unprecedented all-electric battery range.
For its part, Panasonic has made developing lithium-ion batteries for automobiles one its principal activities; several automakers around the world already use the company’s products in their vehicles. Its expertise in the domain is widely recognized, and current efforts in its development division are focused on growing the capacity and safety of its batteries.
Toyota and Panasonic are looking at renewing their longstanding partnership to develop more efficient batteries at lower cost, which will make electric and hybrid cars that much more affordable and attractive for consumers. Stay tuned!