Panasonic to supply lithium-ion batteries for Toyota’s eQ electric vehicle

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Panasonic Corp on Monday announced that it will supply lithium-ion batteries for Toyota Motor Corp’s eQ electric car.

With growing environmental concerns and escalating oil prices, demand for rechargeable batteries for eco-friendly vehicles is expected to grow rapidly. Panasonic is building up its battery business to meet such demand.

The company is already supplying nickel-metal hydride (Ni-MH) batteries for hybrid electric vehicles to a growing number of automotive manufacturers around the world, as well as lithium-ion batteries for hybrids, plug-in hybrids and electric vehicles. Panasonic has already supplied lithium-ion batteries to Toyota’s Prius Plug-in Hybrid and Prius α hybrid.

The supply agreement with Toyota now expands to an all-electric vehicle model as well as hybrid and plug-in hybrid models.