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Supply Chain

Toyota-Panasonic battery venture gains U.S. lithium supply

5-year deal with Australian miner combats shortage of crucial EV material

Toyota Motor and Panasonic Holdings want to establish a U.S. lithium supply chain through their battery joint venture Prime Planet Energy & Solutions. (Nikkei montage)

NAGOYA, Japan -- An electric vehicle battery venture owned by Toyota Motor and Panasonic Holdings has struck a deal to access lithium from a U.S. mine held by Australian company ioneer, the commodities supplier said Monday.

Ioneer plans to start production of lithium from the Rhyolite Ridge project in Nevada in 2025.

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