Toyota will enter into a partnership with a Chinese company, CATL, in order to develop EV batteries. This move will support Toyota in its goal to move half of its sales to electric vehicles by the year 2025. CATL is a prominent organization in the EV battery industry. CATL already has supply deals with other auto manufacturing companies like Honda and Volvo. Toyota released a statement saying that a supply of batteries is critical to electric vehicle production and the pair will work on further developing technology and Toyota says the two companies will "Establish joint systems and engage in specific initiatives together."
Toyota has made other moves in the electric vehicle industry including co-developing vehicles with BYD that will hit the market by 2020.
Image Credit: Toyota/ CATL