The sinews of war in the hybrid and electric vehicle market are batteries. We’re talking about their capacity and performance, of course, but also about their large-scale production at a reasonable cost.
Earlier this year, Toyota and Panasonic announced the creation of a joint company employing more than 5,000 people, Prime Planet Energy & Solutions, to manufacture lithium-ion batteries for electric vehicles, primarily for Japan. , China and Europe.
In North America, as you know, Toyota does not yet sell such vehicles, only hybrids. And the number of models within the lineup is only growing – let’s think of the RAV4 Hybrid and RAV4 Prime as well as the all-new 2021 Venza and Sienna, back as a hybrid only. How to avoid further shortages and delivery delays?
Well, good news: the Japanese manufacturer has just announced that it is expanding its partnership with Panasonic to produce more prismatic lithium-ion batteries for hybrid vehicles.
The second plant in Tokushima Prefecture, Japan, will have the capacity to manufacture around 500,000 a year starting in 2022. Well, that’s not exactly a short-term cure, but fans of Toyota and Lexus can still be happy about it.
“Automotive electrification is essential to meet the challenges of air pollution and global warming. The global market for electric vehicles will continue to grow rapidly, so this expansion of our production capacity will allow us to manage the growing demand for prismatic lithium-ion batteries for hybrid vehicles, ”the press release read. Prime Planet Energy & Solutions.