BMW investing €400M in new vehicle assembly at Munich plant as part of shift to electromobility; engine production being concentrated at Steyr and Hams Hall
Nuvera expands product line with new E-60 fuel cell system

Panasonic, Equinor and Hydro partner to explore potential for European battery business

Panasonic, energy company Equinor and industrial group Hydro have signed a Memorandum of Understanding (MoU) to form a strategic partnership to explore possibilities for establishing a sustainable and cost-competitive European battery business.

The companies will work together towards summer 2021 to assess the market for lithium-ion batteries in Europe and mature the business case for a green battery business located in Norway. The companies intend that this initiative is based on Panasonic’s leading technology and targets the European market for electric vehicles and other applications.

The companies will also investigate the potential for an integrated battery value chain and for co-location of supply chain partners. The findings from this initial exploratory phase will form the basis for subsequent decisions.

Mototsugu Sato, Executive Vice President of Panasonic, says the company sees the strategic partnership with Equinor and Hydro as a potential basis for future development and growth in the energy/battery sector in the European region.

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 way for a robust and sustainable battery business in Norway. Panasonic has powered the last two revolutions in the automotive industry – first by powering hybrids and now, by powering multiple generations of all electric vehicles. 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.

—Mototsugu Sato

Electrification is a fundamental element in Europe’s transition towards net zero emissions in 2050, and batteries are expected to play a vital role in this, especially in the transportation sector, where demand is growing rapidly.

As part of this initial phase, the companies will directly engage potential customers in Europe’s automotive and non-automotive industries and enter into dialogue with relevant authorities in Norway and in Europe aiming at ensuring competitive framework conditions for this joint battery initiative. Preliminary findings are expected around mid-2021.

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)