- The companies will approach car makers and other potential customers in Europe, and relevant authorities in Norway and elsewhere
- They plan to present preliminary findings of their project by mid-2021
As per a report by Reuters, Panasonic, Equinor and Norsk Hydro said that they will explore opportunities to set up a lithium-ion battery production business in Norway, , targeting auto makers as potential customers. Norway aims to become the world’s first country to end the sale of fossil-fuel powered cars and has set 2025 deadline. Fully electric vehicles now make up about 60 per cent of monthly sales in Norway as per the report.
Preliminary findings of their project by mid-2021
The report added that the three companies said in a joint statement that the initiative would be “based on Panasonic’s leading technology and targets the European market for electric vehicles and other applications.”A Panasonic spokeswoman said that the potential business could supply cylindrical batteries to Tesla Inc’s new electric-car plant in Germany. It is is planning to expand its existing joint battery venture with Tesla in Nevada by adding a new production line next year.
As per the report, the companies will approach car makers and other potential customers in Europe, and relevant authorities in Norway and elsewhere. They plan to present preliminary findings of their project by mid-2021.