Toyota-Panasonic venture to build lithium-ion batteries for hybrids in Japan

(Reuters) – A Toyota Motor Corp and Panasonic Corp joint battery venture will establish a production line in Western Japan to manufacture lithium-ion power units for hybrid vehicles beginning in 2022, the company said on Tuesday.

The production line at a Panasonic factory in Tokushima prefecture will have enough capacity to build batteries for around 500,000 vehicles a year, Prime Planet Energy & Solutions, Inc said in a press release.

Reporting by Tim Kelly; Editing by Muralikumar Anantharaman


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