Toyota and Panasonic will establish Prime Planet Energy & Solutions, a joint venture specializing in automotive prismatic lithium-ion batteries.

Scheduled to launch on April 1, 2020, Prime Planet Energy & Solutions will employ approximately 5,100 people, and will supply batteries not only to Toyota but also to other customers.

In addition to producing prismatic batteries, the new JV will also develop solid-state and other next-generation automotive batteries.

Source: Toyota