Panasonic teams up with Nordic companies for European battery production
Panasonic has signed a preliminary agreement with Nordic energy company Equinor and the industrial group Norsk Hydro to explore the possibilities for building a “sustainable and cost-effective European battery business” for electric vehicles in Northern Europe.
Mototsugu Sato, The executive vice president of Panasonic said
“This collaboration combines Panasonic’s position as an innovative technology company and leader in lithium-ion batteries,”
“With the deep industrial experience of Equinor and Hydro, both strong global players, to potentially pave the way for a robust and sustainable battery business in Norway,
“We are pleased to enter into this initiative to explore implementing sustainable, highly advanced technology and supply chains to deliver on the exacting needs of lithium-ion battery customers and support the renewable energy sector in the European region.”
Panasonic is running a tight competition with “LG Chem” to be the leading supplier of batteries for electric vehicles in the world.
The customers for this company are Tesla and Toyota while LG counts Ford motor company, general motors, Groupe Renault and Volvo
Norsk Hydro, one of the largest aluminium company also stresses that it expects battery production to increase.
Al Cook, The executive vice president of Global Strategy & Business Development at Equinor said
“Our companies seek to be leaders in the energy transition. The creation of this world-class battery partnership demonstrates Equinor’s ambition to become a broad energy company,”
“We believe that battery storage will play an increasingly important role in bringing energy systems to net zero emissions,”
“By pooling our different areas of energy expertise, our companies will seek to create a battery business that is profitable, scalable and sustainable.”
