Toyota names joint venture with Panasonic to make prismatic batteries
Japanese carmaker Toyota has finally put a name to a joint venture with electronics and electric vehicle (EV) battery maker Panasonic that was first explored in 2017 and will see the two work towards making prismatic batteries for EVs.
Under the name Prime Planet Energy & Solutions, the two hope to develop high quality but cost-effective batteries for not only Toyota but also a wider market.
Panasonic is already the leading supplier of batteries to electric vehicle leader Tesla via its Nevada Gigafactory and which is now second only to Toyota in market cap value.
Toyota has been somewhat tardy in the now inevitable transition to electric mobility, and though it no doubt hopes the partnership will save it from irrelevancy, one has to wonder if it can prove to be the
Prismatic batteries are most commonly found in mobile phones, tablets and laptops and have the advantage of using space more efficiently than the cylindrical batteries such as 18650 Panasonic batteries used by Tesla.
However they typically have issues with thermal management and a shorter life cycle.
Toyota’s partnership with Panasonic hopes to “develop highly competitive, cost-effective batteries that are safe and feature excellent quality and performance (in terms of capacity, output, durability, etc.), enabling use with peace of mind by all customers”.