Toyota partners Panasonic to
develop Prismatic Batteries for EVs
Toyota and Panasonic have joined their hands to form a joint venture specialising in automotive prismatic batteries for electric vehicles.
This joint venture is named as Prime Planet Energy & Solutions, Inc. The decision was announced by the companies as they concluded a business integration contract and formed a joint venture to establish a new company. In both the companies, Toyota holds 51% of the stake and Panasonic 49%.
These Prismatic batteries offer alternative energy for automobiles and other forms of e-mobility which can solve the environmental concerns and becomes an important role in driving the e-mobility ecosystem.
Prismatic batteries are widely used in electric vehicles, mobile phones, tablets, and laptops. The main advantage of using these batteries is that they can be fitted in very less space compared to the other conventional cylindrical batteries.
Panasonic will not only supply the batteries to Toyota but also to the other customers. It will develop, manufacture and sell high capacity output prismatic lithium-ion batteries and will develop high capacity batteries using solid-state cells. They will also develop, manufacture and sell next next-generation automotive batteries.
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As part of the first phase, the Panasonic has partnered with electric mobility service providers such as SmartE and qQuick. As per the partnership, the Panasonic will deploy the EV charging service to 150 SmartE electric three-wheeler and to 25 qQuick two-wheelers in the Delhi-NCR region.
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