Toyota Motor Corp-Panasonic Corp joint venture builds lithium-ion battery production line in Japan

On Tuesday, in a statement Toyota Motor Corp said, it will collaborate with Panasonic Corp to create a joint venture for producing batteries in Japan.

To this end, the duo will establish a production line in Western Japan which will manufacture lithium-ion batteries for hybrid vehicles starting from 2022.

The production line will have a capacity to build batteries for around 500,000 vehicles a year, said Prime Planet Energy & Solutions Inc in a statement.

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