Prime Planet Energy & Solutions is looking for a new domestic manufacturing site, according to The Japan Times. The Toyota–Panasonic joint venture (JV) is searching for a seaport region in Japan to adjust to growing electric vehicle demand.
Prime Planet Energy Solution CEO Hiroaki Koda said the company is looking for a site “with access to harbor and clean energy supply” in Japan.
Cut down production costs by 2025
Amidst high raw materials costs for EV batteries, the JV plans to trim production costs by adopting Toyota’s kaizen process of increasing productivity via tiny, steady improvements.
Koda added, “minimizing costs and launching production lines speedily is the key to catching up in the EV race. Prime Planet plans to slash costs by 60% by 2025 compared to the 2020 levels.”
Earlier this 2022, Toyota said it would invest up to $5.6 billion to boost EV battery production in Japan and the United States.
Prime Planet is expected to source lithium carbonate from Ioneer’s mining project in Nevada, US.2
Notably, Panasonic is Tesla’s long-term lithium battery supplier. The company announced its expanding battery production in Kansas and Nevada in August.
About Prime Planet
Prime Planet Energy & Solutions is a leading developer and manufacturer of prismatic lithium-ion batteries, mainly for automotive applications.
The company offers optimum solutions that meet the needs of their consumers using top-class products with industry-leading performance, quality, and safety which have been developed and nurtured with the cooperation of a wide range of business partners.
