Expanding the eco-friendly vehicle battery business to plug-in hybrid vehicles
Osaka, Japan - The Panasonic Group today announced that it will supply lithium-ion batteries for Toyota Motor Corporation's Prius Plug-in Hybrid. This will be the first time for the Panasonic Group to supply its lithium-ion batteries for a mass production plug-in hybrid vehicle*1.
Given the growing public concern for conserving the environment and escalating oil prices, the demand for rechargeable batteries for eco-friendly vehicles is expected to grow rapidly. In response to this, the Panasonic Group is enhancing its development abilities and strengthening its business for rechargeable batteries for eco-friendly vehicles. The Panasonic Group is already supplying nickel-metal hydride batteries and systems for hybrid vehicles to a number of automobile makers globally and is also carrying out joint development of lithium-ion battery systems for hybrid vehicles with other car manufacturers.
The Panasonic Group is aiming to accelerate the development and commercialization of high performance rechargeable batteries for eco-friendly vehicles and further expand its rechargeable battery business globally.
An announcement has been made by Toyota today about the Prius Plug-in Hybrid Vehicle.
*1: Plug-in hybrid vehicles are next generation hybrid vehicles that can be charged from a standard residential-use power supply. Typically, plug-in hybrid vehicles are equipped with batteries with a higher capacity than standard hybrid vehicles, extending the distance they can travel using only the electric motor. Compared to typical hybrid vehicles, the proportion of time plug-in hybrid vehicles run on electricity only has been increased, bringing even greater benefits for the environment, such as further reductions in CO2 emissions.
Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.69 trillion yen (US$105 billion) for the year ended March 31, 2011. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/.
SANYO Electric Co., Ltd., a member of the Panasonic Group, is a global company with leading energy and environmental technology and products for commercial and consumer use. SANYO offers products and services that focus on energy generation, energy storage and efficient energy usage, such as photovoltaic (solar) systems, small- to large-scale-use rechargeable batteries, as well as other energy-efficient products and electronic components that are designed with the environment in mind. For further information, please visit the company web site at http://panasonic.net/sanyo/