Many are looking to hybrid or fully electric vehicles (EV) for the future, as countries around the world all look to reduce carbon footprint. Toyota and Panasonic seem to have zeroed in on this space, as the two companies have recently announced the establishment of a joint company - Prime Planet Energy & Solutions.
According to Toyota, the aim of the new company is to develop and manufacture cost-effective batteries. About 5100 employees have or in the process of being recruited for the work that's set to begin in April 2020. The batteries will be provided not only to Toyota for its vehicles but also to other customers that may be interested. Whether that includes competing EV auto-makers has not been confirmed.
Toyota will need a lot of batteries for its upcoming EVs, like the RHOMBUS here
Moreover, the two companies will endeavour to work with industry partners to reduce the impact on the planet and to create "clean-broad-ranging, added-value solutions including and beyond the supply of energy in the form of batteries". This suggests that the company will look into the development of other forms of power generation, outside of batteries for electric vehicles.
There are a lot of details that were not given in the press statement. But given the manufacturing timeline, it's likely we'll see new Toyota hybrid or electric cars in the coming months. Is there one you already know of and are looking forward to? Let us know on our Facebook page and stay tuned to TechNave.com for more news.
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