One of the biggest challenges; important to make electrified cars more & ugrave; accessible, & egrave; reducing battery costs. According to Bloomberg, the joint venture Prime Planet Energy & amp; Solutions (PPES) created by Toyota and Panasonic is working to reduce the cost of the prismatic cells it produces. It is worth mentioning that the joint venture, 51% owned by the Japanese carmaker, is up to now mainly concentrated on cells destined to batteries for hybrid cars of which it holds 25% of the market.
Now, for & ograve ;, Prime Planet Energy & amp; Solutions also intends to make greater efforts on cells dedicated to electric cars. As such, it is implementing a production line at its site in Himeji, Japan. According to what was communicated, the capacity initial production baster & agrave; for 80,000 BEVs per year . A figure that allows you to get an idea of Toyota's expectations in terms of production of its future electric cars. However, the company will continue investments also in capacity; productive for hybrid models. For example, the Dalian, China plant will be; expanded to produce cells that can be enough for 400,000 hybrids per year. Overall, in 2020 the joint venture built cells for 1.4 million hybrid and electric vehicles.
CUTTING COSTS
Returning to cost reduction, the joint venture led by Hiroaki Koda , a former Toyota executive, has set a target of a 50% cut by 2022 . In the medium term, the aim is to reduce it by 65-70% by 2025. These are really very ambitious goals. According to the source, about 60% of the cost of batteries is; bound to raw materials such as cobalt and lithium . 40% depends, on the other hand, on development, production and investments in factories.
According to what has been reported, PPES is working on all these areas because it is; prices of more cells are needed; low in order to spread the presence of electrified vehicles. This is interesting news especially because it is; in this operation & egrave; Panasonic is also involved, which is trying to decrease its “ addiction '' by Tesla, also focusing on other important projects. At this point all that remains is to find out if the joint venture will really succeed; to cut cell costs as promised.
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