Fujihatsu Tech America, Inc. and Toyota Tsusho America Inc. announced today that the two companies have entered into a joint venture, FUJIHATSU & TOYOTSU Battery Components, North Carolina LLC (“FTBC”). This venture was created to manufacture and sell prismatic aluminum cell cases and cell covers with discharge valves to meet the increasing demand for automotive batteries, particularly with the growing adoption of electrified vehicles (EVs) like hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs). The new company will be 60% owned by FUJI SPRINGS’ U.S. subsidiary FUJIHATSU TECH AMERICA, INC. and 40% by Toyota Tsusho America Inc.

Background

Demand for automotive batteries is expected to increase with the spread of electrified vehicles such as hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs). Among the three types of automotive batteries: prismatic, cylindrical, and laminated (pouch), most of the automotive battery manufacturers in the U.S. are currently producing cylindrical and laminated batteries. Under these circumstances, there are no suppliers with experience in manufacturing aluminum cell cases for prismatic batteries.

Overview of Fujihatsu & Toyotsu Battery Components North Carolina LLC (FTBC)

Fujihatsu & Toyotsu Battery Components North Carolina LLC (FTBC) will specialize in manufacturing prismatic aluminum cell cases and cell covers with gas discharge valves for lithium-ion batteries for HEVs and eventually BEVs. The manufacturing facility is scheduled to be completed in February 2024, with mass production starting in January 2025. The initial production volume is planned to be 2.7 million units/month increasing to 3.6 million units/month after January 2026.

FUJI SPRINGS, with a significant market share in the Japanese market for prismatic aluminum cell cases and cell covers, will bring its technical expertise to the project, leveraging the manufacturing technology and know-how it has cultivated to date. Toyota Tsusho America will provide administrative and operational support, drawing on its sales and procurement capabilities and global network as a trading company.

FTBC will support the automotive battery supply chain, ensuring a stable supply of prismatic aluminum cell cases and cell covers, further contributing to the expansion of electric vehicles. With the realization of carbon neutrality, this will align with the global trend toward sustainable transportation solutions.

Overview of FTBC