Toyota Partners with Panasonic to Develop Battery Tech
Toyota has deepened its relationship with Panasonic to develop battery technology for electric cars, signaling the automaker’s continued commitment to a clean future of mobility. Toyota’s goal is for green cars to comprise half of its global sales by 2030.
The announcement builds upon an existing agreement with Panasonic, the global market leader in automotive lithium-ion batteries, which is already behind the batteries found in Toyota’s hybrid and plug-in hybrid vehicles.
The automaker plans to work more closely with Panasonic to build better EVs that continue to comply with the tightening regulations worldwide that aim to reduce vehicle emissions. President Akio Toyoda admits that Toyota has been “a little bit late” on EVs—having focused primarily on hybrid and hydrogen fuel cell technology. He added that car companies could not tackle the issue of electrification all on their own and would need to look for help.
“Japan does not have any resources and in order to survive in the era of a major change we need to develop competitive batteries so that we can provide a stable supply of batteries,” he told a joint news conference. “No longer can we expect a future by adhering to our current path.”
“The auto industry faces many hurdles to developing next-generation batteries which are difficult for automakers or battery makers to tackle on their own,” he added. “It would be difficult for us to meet our 2030 goals given the current pace of battery development. That’s why we’re looking to Panasonic and other companies to help us develop ever-better cars and batteries.”
The partnership ought to benefit Panasonic as well, who is also currently the main battery supplier for Tesla, by helping it retain its industry leading position.
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