Prime Planet Energy & Solutions, the battery joint venture of Toyota and Panasonic, has signed a binding offtake agreement with Ioneer for lithium carbonate from Ioneer’s Rhyolite Ridge project in Nevada.
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Prime Planet Energy & Solutions, the battery joint venture of Toyota and Panasonic, is expanding its production capacities, according to a media report. At the existing site in Dalian, a third battery plant is apparently being built as of this month, where cells for hybrid cars are to be produced.
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Panasonic and Toyota have started joint research with the University of Tokyo on battery resources and recycling. In addition to CO2 neutrality, the aim of the project is to reduce production costs in the entire battery supply chain.
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The commodities group BHP and the Toyota-Panasonic joint venture Prime Planet Energy & Solutions have agreed on a memorandum of understanding on the supply of nickel. The material is to come from BHP’s new production facility in Western Australia.
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Prime Planet Energy & Solutions, the battery joint venture between Toyota and Panasonic founded in April 2020, aims to increase the efficiency of its development and production processes tenfold in order to better compete with larger Chinese competitors.
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The battery joint venture between Toyota and Panasonic, Prime Planet Energy & Solutions, is building up capacity to produce batteries for hybrid vehicles. The joint venture is installing a production line for prismatic lithium-ion batteries.
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The planned battery joint venture between Toyota and Panasonic will be called Prime Planet Energy & Solutions. According to Panasonic, the JV, in which Toyota will hold 51% and Panasonic 49%, is to be established on 1 April 2020.
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