Panasonic explores a European battery deal with Norway’s largest energy and industrial companies – TechCrunch

Panasonic explores a European battery deal with Norway’s largest energy and industrial companies – TechCrunch

Panasonic, One of the world’s largest manufacturers of lithium-ion batteries has entered into a preliminary agreement with Nordic Energy Co., Aquinor, and an engineering and industrial company, Norsk Hydro, to cooperate in building a battery business in Northern Europe.

The three companies said they would work in the coming months to review the market for lithium-ion batteries in Europe and to explore the potential for a large battery business in Norway.

He said: “This collaboration combines Panasonic’s position as a state-of-the-art technology company and as a leader in lithium-ion batteries, with deep industrial experience of Aquinor and Hydro, both strong global players, strong and sustainable in Norway. To pave the way for the battery business, “said Motosugo Sato, Panasonic’s executive vice president, in a statement. “We are pleased to enter this initiative to meet the challenges of lithium-ion battery users and to support the renewable energy sector in the European region, implementing sustainable, highly advanced technology and putting the supply chain into practice.” ۔ ”

As part of the agreement, the companies will seek an integrated battery value chain and collaborative supply chain partners, according to a statement.

Panasonic is running neck and neck with LG Cam Being the largest supplier of batteries for electric vehicles in the world. The company’s main customers for batteries are Tesla And Toyota, while LG counts automakers including General Motors, Group Renault, Hyundai, Ford Motor Company, and Volvo.

Panasonic’s two major regional players in hydrocarbons and renewable energy, as well as pressure in Northern Europe, are indicative of the potential that exists in the European market beyond automotive.

“Our companies strive to be leaders in energy transfers. The launch of this global battery partnership reflects Aquinor’s ambitions to become a broader energy company,” said Aquinor’s Executive Vice President of Global Strategy and Business Development. “We are confident that battery storage will play a key role in bringing the energy system to zero emissions,” Alkak said in a statement. “By gaining energy expertise in our various fields, our companies will be able to provide such batteries.” Will strive to build a business that is profitable, scalable and sustainable

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