Sumitomo, Toyota eye mass-production of EV battery materials
TOKYO -- Sumitomo Metal Mining Co. and Toyota Motor Corp. have concluded an agreement on the mass production of cathode materials for all-solid-state batteries for electric vehicles.
Toyota's logo is seen at an exhibition stall at the Bharat Mobility Global Expo organized by India's commerce ministry at Pragati Maidan in New Delhi, India, February 1, 2024. Photo: Reuters
Under the agreement announced Wednesday, the two companies aim to accelerate joint development toward Toyota's goal of achieving the commercial use of all-solid-state batteries in 2027-28.
All-solid-state batteries are said to offer numerous advantages over the current mainstream liquid-based batteries that use electrolyte solutions, including shorter charging times and longer driving ranges for EVs.
The two companies have been conducting joint research since around 2021 and have developed cathode materials with excellent durability.
They now aim to further improve quality and reduce production costs in preparation for mass production.
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