Suzuki says EV battery supply deal possible with Toyota-Panasonic

The logo of Suzuki Motor Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - Suzuki Motor Corp's 7269.T president said the Japanese automaker will not join efforts by Toyota Motor Corp 7203.T and Panasonic Corp 6752.T to develop batteries for electric vehicles, but a supply deal could be possible.

Toyota on Wednesday said it is considering making EV batteries with Panasonic to help meet its goal for green cars to comprise half of global sales by 2030.

Automakers are competing to launch more EVs to meet tightening regulations on vehicle emissions, and have been announcing partnerships with parts suppliers and other companies to meet the high costs of developing new technologies.

Toshihiro Suzuki, speaking at a product launch in Tokyo on Thursday, told reporters there was “no room” to join the tie-up between Toyota and Panasonic, but that a supply arrangement was possible.

Suzuki and Toyota have agreed to trade expertise in parts supplies and research and development, including selling electric vehicles in India.

Reporting by Maki Shiraki; Editing by Christopher Cushing