As demand for electrified vehicles increases, Toyota needs to be able to use newer, better batteries. To achieve this goal, it recently announced plans to collaborate more closely with Panasonic, the company it’s worked on batteries with for the past two decades.
Currently, Panasonic provides lithium-ion batteries for Toyota’s plug-in hybrid vehicles. The two companies also formed a joint venture in 1996 called Primearth EV Energy Co. that produces both lithium-ion and nickel-metal hydride batteries for other Toyota vehicles. The Japanese automaker owns 80.5 percent of Primearth, with Panasonic owning the rest.
Assuming Toyota and Panasonic don’t experience significant setbacks in their development of solid-state batteries, expect to see a fully electric Toyota on the road in the early 2020s.