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15 December 2017, 03:23 | Yvette Williams
Image used for representational purpose
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.
According to commentators, Toyota'sbattery needs will likely increase after it said a year ago it would add fully electric vehicles to its product line-up in the early 2020s, as it expands a green-car strategy focused on plug-in hybrid and fuel-cell vehicles (FCV). No word on whether Panasonic has a role in that initiative.
The collaboration will also further develop next-generation solid-state batteries, as that technology picks up pace in several areas of the industry due to a potential higher capacity that would be suited to longer-range electric vehicles. "Such cars do not fit in our program".
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. "In order for Japan to survive this era of profound change with no natural resources, we must develop competitive batteries and establish systems for a stable supply", Toyoda said.
Toyota alone is targeting the sale of 4.5 million hybrid vehicles together with 1.0 million electric and fuel cell cars by 2030. He added that auto companies could not tackle the issue of electrification all on their own and would need to look for help. With a 29 percent market share, Panasonic is the world's biggest supplier of batteries for plug-in hybrids and EVs, showed January-June data from Nomura Research. "Our cylindrical batteries are the most widely used batteries in pure EVs at the moment", commented Panasonic President Kazuhiro Tsuga. "But when you look at the future, it's hard to gauge which format holds more demand potential".
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