Panasonic, one of the world’s largest manufacturers of lithium ion batteries, has signed a preliminary agreement with the Nordic energy company, Equinor, and engineering and industrial company, Norsk Hydro, to collaborate on building a battery business in Northern Europe.
The three companies said that over the coming months they’ll work to assess the market for lithium-ion batteries in Europe and explore the potential for building a big battery business in Norway.
“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,” said Mototsugu Sato, executive vice president of Panasonic, in a statement. “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.”
As part of the agreement, the companies will explore the potential for an integrated battery value chain and for co-locating supply chain partners, according to a statement.
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Source: Tech Crunch