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<p><a href="https://global.toyota/en/" target="_blank" rel="noopener noreferrer">Toyota Motor</a> and <a href="https://www.panasonic.com/global/home.html" target="_blank" rel="noopener noreferrer">Panasonic Corporation</a> have joined hands to establish a joint venture specializing in automotive prismatic batteries for electric vehicles (EVs).</p>
<p>The joint venture will be called Prime Planet Energy &amp; Solutions, Inc.</p>
<p>This latest decision comes a year after the two companies announced that they had concluded a business integration contract and a joint venture contract for the formation of a new company. In the joint venture, Toyota will own 51% of the stake, while Panasonic will have the rest 49%.</p>
<p>Prismatic batteries offer a viable alternative for providing energy for automobiles and other forms of e-mobility, which can address the growing concerns regarding environmental issues and can play a central role in driving the e-mobility ecosystem forward. Prismatic batteries are widely used in electric vehicles, mobile phones, tablets, and laptops, and the main advantage that they have got over conventional batteries is that they use less space than the cylindrical batteries because of their rectangular shape.</p>
<p>The new company will not only supply the batteries to Toyota but also to other customers. The new company will develop, manufacture, and sell high capacity output automotive prismatic lithium-ion batteries and develop high capacity batteries using solid-state cells. They will also develop, manufacture, and sell next-generation automotive batteries other than those which will be based on new principles.</p>
<p>Recently, a new research finding at IBM Research could help <a href="https://mercomindia.com/ibm-claims-come-up-battery-replace-lithium-ion/" target="_blank" rel="noopener noreferrer">eliminate</a> the use of heavy metals in battery production, and this could lead to a paradigm shift in the long-term sustainability of many elements in our energy ecosystem. The research team at IBM Research has come up with a new battery that does not use any heavy metals with sourcing concerns.</p>
<p>Earlier, the Union Cabinet, chaired by Prime Minister Narendra Modi, had <a href="https://mercomindia.com/government-blueprint-ev-battery/" target="_blank" rel="noopener noreferrer">approved</a> the proposal for setting up a national mission on transformative mobility and battery storage initiatives. Apart from this, the Cabinet has also approved the creation of a Phased Manufacturing Program to support the development of large-scale, export-competitive integrated batteries and cell-manufacturing giga-scale projects in India.</p>
<p>Previously, Mercom had <a href="https://mercomindia.com/panasonic-launches-ev-charging-service-delhi/" target="_blank" rel="noopener noreferrer">reported</a> that Panasonic launched <a href="https://news.panasonic.com/global/topics/2019/68524.html" target="_blank" rel="noopener noreferrer">Nymbus</a>, a smart EV charging service in the Delhi-NCR region, in partnership with electric mobility service providers Smart E and qQuick. In the first phase of the roll-out, Panasonic will be deploying the service on 150 SmartE electric three-wheelers and 25 qQuick two-wheelers in the region.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Toyota and Panasonic Join Hands to Develop Automotive Prismatic Batteries for EVs

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