LG Chem has signed a contract with Toyota and Panasonicʼs “Prime Planet Energy & Solutions” (PPES) joint venture. The collaboration will see LG Chem supplying cathode materials to the Japanese PPES plant from 2026 onwards. However, specific purchase volumes and terms of the agreement were not disclosed.
Developing new battery technologies
Toyota Motor Corporation holds 51 percent of the shares and Panasonic Holdings Corporation 49 percent in the joint venture. Since commencing operations in April 2020, the company has focused on the development, manufacture, and sale of large-capacity, high-performance prismatic lithium-ion batteries for the automotive industry. In addition, PPES is working on the development of new battery technologies. The company supplies automotive manufacturers worldwide, including its shareholder Toyota.
Sources:
https://www.lgcorp.com/media/release/28152
https://www.p2enesol.com/en/company/
