Toyota diversifies battery supply chains
While the Chinese continue to claim that a rare earth metal ban has not been imposed against Japan, Toyota is taking no chances.
Toyota has set up a new rare earth metal task force, as well as a new supply partnership with Australian Lynas Corp.
Even before news of the potential Chinese export ban broke, Toyota was already making rare earth moves according to BusinessWeek.
“Toyota Tsusho Corp., a trading company affiliated with the carmaker, has formed a joint venture with Sojitz Corp. and a Vietnamese state-run mining company to export rare earth metals to Japan from 2012, spokesman Katsutoshi Yokoi said. The company acquired Tokyo-based rare earth metal importer Wako Bussan Co. in December 2008, which will import materials from India from next year, Yokoi said.”