TOKYO, June 7 (Xinhua) -- Toyota Motor Corp. on Friday said it has begun potential tie-up talks with both Japanese and Chinese makers of batteries for automobiles as it seeks to broaden its range of electric vehicles (EVs).
The talks involve Chinese battery maker Amperex Technology Co., known for specializing in battery management systems, as well as the production of lithium-ion batteries for electric vehicles and energy storage systems.
Shigeki Terashi, Toyota Motor vice president, told a press briefing on the matter that if the alliance were formed, the automaker would be able to remain competitive in a growing EV market amid tightening global emission regulations.
"We will build a new production system to address the growing demand for EVs," Terashi said, adding that the automaker plans to release a new mini and micro EV in Japan next year.
Toyota has set a target of selling more than 5.5 million electrified vehicles a year including hybrid models by 2025.
From its overall target, the company is targeting selling more than 1 million EV or fuel cell vehicles, it said.