MoU launches initiative to form European lithium-ion battery business

Two Norwegian firms have signed a memorandum of understanding (MoU) with Japan’s Panasonic to explore the business case for establishing a European lithium-ion battery business.

Technology company Panasonic has formed a strategic partnership with energy company Equinor and industrial group Norsk Hydro to assess the market for lithium-ion batteries in Europe and develop a business case for commercial opportunities in Norway.

Image: The MoU was signed by (from left) Allan Swan, president of Panasonic Energy North America, Al Cook, executive vice president of Global Strategy & Business Development in Equinor, and Arvid Moss, executive vice president of Energy and Corporate Development in Hydro.