July 17, 2019 / 5:51 AM / a month ago

Toyota, China's CATL in partnership for new energy vehicle batteries

TOKYO, July 17 (Reuters) - Toyota Motor Corp said on Wednesday it had agreed to partner with China’s Contemporary Amperex Technology Co Ltd (CATL) to supply and further develop batteries for new energy vehicles (NEVs).

The Japanese automaker said the firms had also begun talks covering a range of areas including new technology development and the reuse and recycling of batteries.

“To further promote the widespread use of electrified vehicles, CATL and Toyota agree that a stable supply of batteries is critical and that battery technology must be further developed and advanced,” Toyota said in a statement.

Source text: bit.ly/2XJRkVb (Reporting by Chris Gallagher; Editing by Muralikumar Anantharaman)

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