Toyota's battery JV starts production

Toyota Prius Panasonic EV Energy, a joint venture (JV) between Toyota and Matsushita Electric Industrial (Panasonic), has started production of rechargeable batteries for gasoline-electric hybrid vehicles at its new plant in Japan, reports Kyodo News. The batteries are being manufactured at the JV’s Taiwa plant in Miyagi Prefecture, which should initially cater for 100,000 vehicles per year, rising to 300,000 vehicles per year by September. The new plant is expected to help reduce the demand-supply gap for Toyota’s Prius hybrid, with buyers of this vehicle currently having to wait around six months to receive their orders. This plant is also likely to help Toyota meet its battery requirements for other hybrid vehicles as the company is already reportedly set to start production of a new hybrid vehicle at a new plant in Taiwa later this month. (January 7, 2010)