Panasonic Energy and Mazda to Begin Preparation for Supply of Automotive Lithium-ion Batteries

Osaka and Hiroshima, Japan, Sept 6, 2024 - (JCN Newswire) - Panasonic Energy Co., Ltd., a Panasonic Group Company and Mazda Motor Corporation today announced that they will prepare for the supply of next-generation cylindrical automotive lithium- ion batteries, in anticipation of their installation in Mazda's battery electric vehicles (BEVs) that are scheduled to be introduced from 2027 onwards. This follows their formerly concluded agreement and reflects their aim of establishing a medium- to long-term partnership. Japan’s Ministry of Economy, Trade and Industry approved on the same day their joint project for the expansion of battery production and technology development as part of its plan for establishing a stable supply of batteries.

Masahiro Moro, President and CEO of Mazda (left), and KazuoTadanobu, President and CEO of Panasonic Energy (right)

In line with its management policy up to 2030,Mazda is dividing its roadmap into threephases, advancing the production of electric vehicles in response to market changes and customer needs. By 2027, the company plans to introduce a BEV model based on its first dedicated EV

platform. As part of this collaboration, Panasonic Energy aims to increase its production capacity and plans to produce cylindrical lithium-ion batteries at its Suminoe and Kaizuka factories in Osaka from 2027 onwards. These will bemodule-packaged by Mazda. Panasonic Energy plans to achieve a domestic production capacity of 10GWh annually for this collaboration by 2030.

The Japanese government has positioned storage batteries as a strategic asset for achieving carbon neutrality by 2050, and is working to expand the domestic battery supply chains and improve industrial competitiveness. Through this collaboration, Mazda and Panasonic Energy are poised to help strengthen cylindrical automotive lithium-ion batterydomestic supply chains, while also expanding and enhancing Japan's manufacturing base.

The two companies will continue to work together to address societal challenges such as the mitigation of global warming, promoting sustainable growth within the automotive and battery sectors, supporting local employment, and fostering talent development.

Kazuo Tadanobu, President and CEO of Panasonic Energy, commented, "Through this collaboration, we are poised to drive the expansion of BEV manufacturing and boost the competitiveness of Japan’s battery industry. Our ultimate goalis to foster a sustainable society, and we are dedicated to achieving this mission."

Added Masahiro Moro, President and CEO of Mazda, "Mazda is committed to achieving carbon neutrality and is drivingthe transition to electrification through a range of solutions that cater to our customers' needs and lifestyles. We will make the most of the highly efficient, high- performance, and safe batteries supplied by Panasonic Energy, and deliver distinctive Mazda BEVs to our customers that perfectly balance design, convenience, and driving range."

Approved Lithium-ion Battery Supply Plan by the Ministry of Economy, Trade and Industry

Production item

Cylindrical Automotive Lithium-ion Batteries

Production capacity

6.5 GWh per year (as of 2030; additional capacity portion)

Total investment

Approximately 83.3 billion yen

Subsidy

Approximately 28.3 billion yen (maximum)

Activities

Establishment of production infrastructure, introduction, development, and improvement of production technology

The above includes the amount of Panasonic Energy's investment/subsidy related to supply other than this partnership.

About Mazda’s Brand Essence “Celebrate Driving”

Mazda's Brand Essence is “Celebrate Driving”. “Celebrate Driving” delivered by Mazda is not just about driving performance. Choosing a Mazda prizes the owner with confidence and pride. Driving a Mazda leading up to urge to take on new challenges. Not just our products but every encounter with Mazda evokes the emotion of motion and makes customers' hearts beat with excitement. All of these are contained in our brand essence of “Celebrate Driving”. For more information, visit https://www.mazda.com/.