Toyota and Panasonic have confirmed that they are starting a wide-ranging new battery joint-venture to manufacture and sell battery cells for electric vehicles, reported Reuters.
Panasonic enjoys a cosy relationship with Elon Musk’s electric-car maker. Although they don’t have a formal partnership, the Japanese company controls production lines at the heart of Tesla’s manufacturing facility in Nevada.
The arrangement allows a specific Panasonic cylindrical cell to pass directly to the factory floor. This setup makes it practically impossible, however, to supply those products to other customers.
The two companies will pool part of existing battery-related equipment and engineers to the joint venture. Panasonic will also transfer its manufacturing capabilities in Japan and China for its thin, rectangular-shaped prismatic batteries.
Full Content: Reuters