Toyota Announces Comprehensive EV Battery Partnership With CATL
CATL will be one of the pillars of Toyota’s EV expansion plan.
Toyota forms a strategic and comprehensive partnership for New Energy Vehicle batteries with Chinese battery manufacturer Contemporary Amperex Technology Co., Limited (CATL).
The deal envisions not only the supply of the lithium-ion cells, but also joint developments and recycling.
“Contemporary Amperex Technology Co., Limited (CATL) and Toyota Motor Corporation (Toyota) announced today that they have entered into a comprehensive partnership agreement for the stable supply and further development of New Energy Vehicle (NEV) batteries. The two companies have also commenced discussions that cover a wide range of fields, including: supply of batteries, new technology development, product quality improvements, and the reuse and recycling of batteries.”
There are no further details about the business plans, but we are talking about multi-GWh volumes as the Japanese manufacturer is gearing up for EV offensive.
Toyota notes also in the press release that the current battery tech needs further improvement, which we heard many times when Toyota was very reluctant to BEVs.
“To further promote the widespread use of electrified vehicles, CATL and Toyota agree that a stable supply of batteries is critical and that battery technology must be further developed and advanced. To this end, the two companies intend to establish joint systems and engage in specific initiatives together.
Through this broad-ranging collaboration, CATL will combine its battery development and supply capabilities with Toyota’s electrified vehicle and battery development technologies. With this combination, the two companies will engage in the development of electrified vehicles that are attractive to customers and in further promoting their widespread adoption.”
CATL is not the only manufacturer that will supply batteries to Toyota. Just like in the case of similarly sized Volkswagen, Toyota needs to secure volume supplies from various suppliers, because otherwise, it would fall into a trap of dependence. Other suppliers will reportedly be Chinese BYD and Panasonic.
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