Panasonic Looking To Get In On The EV and Hybrid Realm

Panasonic, known peddler of electronic wares ranging from TVs to microwaves to stereos, is looking to extend its reach into other segments. The electronics giant’s next step will be into the automotive space as it looks to get into battery manufacturing for EVs and Hybrids, according to Automotive News.

The report comes as Panasonic made a power move to zap its way into the EV-battery-building business by joining forces with Dalian Levear Electric Co to form Panasonic Automotive Energy Dalian Co. This partnership will reportedly churn out lithium-ion batteries for use in EVs and hybrids the world over.

The details of the partnership have not been fleshed out yet, but we do know that it will be a 50-50 deal, and production of said batteries will commence in 2017. This will hopefully add some much-needed competition to this area, resulting in lowered prices and more advanced technology.

In addition to the new battery project, Panasonic is also working on a new molding compounds for laser welding that will help make the switched and sensors in your car more reliable as they age. This new system will utilize a compound called polybutylene terephthalate (PBT), which responds far better to laser welding than the existing plastic moldings.

While expensive batteries are still creating high prices on EVs and hybrids, today fuel prices are at the lowest they have been in ages. This crash in fuel prices has resulted in automakers offering all sorts of great deals on EVs and hybrids. For example, the 2015 Nissan LEAF has a $199/mo. lease deal after an initial payment of $2,399 or 0 percent APR for up to 72 months plus a $5,000 finance bonus. If you’re anxious about the range of the LEAF, there are also great deals on the 2016 Volt, like a $299/mo. lease deal with $500 due at signing or 2.9% APR for 48 months.