Consolidating their partnership for the supply of EV batteries further, Subaru Corporation and Panasonic Energy Co. Ltd [ Panasonic Group] on Tuesday (March 19) signed an agreement covering the supply of cylindrical automotive lithium-ion batteries.
The basic cooperative agreement is an outcome of talks that began between the two partners in July 2023, where Subaru and Panasonic Energy discussed plans for building a medium- to long-term partnership to serve the growing market for battery electric vehicles (BEVs) and auto batteries.
"Through this agreement, both companies reaffirm their commitment to contributing jointly to the resolution of various societal challenges, such as achieving a carbon-neutral society, promoting sustainable growth within the automotive and battery sectors, supporting local employment, and developing human resources," Panasonic Energy said in a statement.
In August 2023, Subaru announced a new electrification plan that increased its electrification target from a 40 percent BEV+ HEV market share in 2030 to 50 percent pure BEV with the remaining share being a mix of HEV and ICE vehicles. The company is targeting total global sales of 1.2 million cars by 2030, which means 600,000 of the vehicles will be all-electric.
The medium- to long-term partnership involves the Japanese automotive OEM installing batteries purchased from Panasonic Energy in BEVs to be produced from the latter half of the 2020s at its sites, including a dedicated BEV plant scheduled to be constructed in Gunma, Japan.
The details of specific projects considered under the collaboration will be shared in a separate announcement.
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