Toyota Tsusho Corporation (“Toyota Tsusho”) announced today that it has agreed via Toyota Tsusho (Shanghai) Co., Ltd. (“Toyotsu Shanghai”) with NIPPON SHOKUBAI CO., LTD. (“NIPPON SHOKUBAI”) on a joint capital participation in Hunan Fluopont New Materials Co., Ltd. (“Hunan Fluopont”).
Recently, as battery electric vehicles and other electric vehicles are increasingly popularized, demand for lithium-ion batteries is increasing. This is because lithium-ion battery that uses electrolytic lithium salt for lithium-ion battery (LiFSI: lithium bis (fluorosulfonyl) imide) as electrolyte can solve various battery-proper issues such as reduced performance at extreme temperatures and service life.
Recently the number of battery electric vehicles and other electric vehicles are on the rise, and so is demand for lithium-ion batteries. Demand for electrolytic lithium salt for lithium-ion battery (LiFSI: lithium bis (fluorosulfonyl) imide) has been rapidly growing as LiFSI solves various battery-proper issues such as performance reduction and service life at extreme low and high temperatures.
Through this capital participation, Toyota Tsusho will commit to sales of LiFSI produced at Hunan Fluopont to electrolytic solution makers not only in China but also in Japan, other Asian countries and Europe, leveraging its global sales network.
Hunan Fluopont, , started to produce LiFSI in the second half of 2022 with a production capacity of 1,200 tons per year. To satisfy the rapidly soaring demand in the market, Hunan Fluopont intends to progressively increase its production capacity up to 12,000 tons per year by 2025.
In July 2021, the Toyota Tsusho group publicized its goal of reducing greenhouse gas (GHG) emissions by 50 percent by 2030 compared to 2019 and achieving carbon neutrality by 2050. In November of the same year, the group drew up its Carbon Neutrality Road Map 2030. Toyota Tsusho positions businesses that contribute to the reduction of GHG as one of its important strategic trajectories, of which the in-vehicle battery business is a pillar to grow for next generation. Toyota Tsusho group now operates businesses throughout the lithium-ion battery supply chain, covering upstream resource exploitation for lithium hydroxide and downstream battery manufacturing and battery reuse/rebuild businesses. Toyota Tsusho will contribute to the transition to a decarbonized society by promoting efforts for carbon neutrality through its global sales network.