Toyota-backed auto battery maker PPES raising production capacity in China Dalian.
Prime Planet Energy & Solutions (PPES), a battery joint venture between Toyota Motor Corporation (Toyota) and Panasonic Corporation, is working on ramping up its production capacity of automotive batteries in China to meet global automakers’ demands for power batteries amid their rapid increase in electric vehicle outputs, according to a report Nikkei’s Chinese website released.
The report revealed PPES has started building the third plant of its battery manufacturing base in the northeastern Chinese city of Dalian since February 2022.
Toyota-Backed Auto Battery Maker PPES Raising Production Capacity in China Dalian
In 2021, PPES ramped up the battery manufacturing capacity at its Dalian base to supply another 400,000 hybrid electric vehicles (HEVs) annually.
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Besides, the company is looking to produce batteries for around 500,000 HEVs per year in Japan’s Tokushima and for 80,000 all-electric vehicles per year in Hyogo.
Toyota aims to sell 3.5 million battery electric vehicles globally in 2030 and market 30 different electric models.
Hiroaki Koda, PPES’ President and CEO, said:
We wish to be able to supply most of the batteries Toyota demands to achieve the EV sales target.
PPES is also on a mission to reduce the costs of prismatic lithium-ion batteries by 65% to 70% by 2025 as it believes that lower prices are necessary to electrification.
Toyota-backed auto battery maker PPES raising production capacity in China’s Dalian, Shanghai (Gasgoo), February 16, 2022
