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Toyota Finalizes EV Battery Partnership with CATL
Toyota Motor Corp. says it has launched a partnership with China’s Contemporary Amperex Technology Ltd., in which CATL will supply batteries for Toyota electrified vehicles.
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Toyota Motor Corp. says it has launched a partnership with China’s Contemporary Amperex Technology Ltd., in which CATL will supply batteries for Toyota electrified vehicles.
The companies also will collaborate to develop next-generation battery technologies, improve manufacturing processes and enhance the reuse and recycling of batteries.
Last month, The Nikkei reported that CATL would begin supplying batteries to Toyota in 2020 for EVs the carmaker builds in China. The newspaper says Toyota also is working with Chinese EV specialist BYD, Kyoto-based battery producer GS Yuasa and Japanese electronic giant Toshiba.
Toyota aims to sell 5.5 million electrified vehicles by 2025. Of the total, 4.5 million of the vehicles are expected to be plug-in and traditional hybrid-electric models. The other 1 million will be full electric and fuel cell-powered vehicles.
Founded in 2011, CATL claims to be the world’s largest supplier of EV batteries. The company’s customers include BMW, Volkswagen and several Chinese automakers.
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