来源：上海证券报 10月8日，丰田汽车全球官网发布消息称，住友金属矿山株式会社（以下简称"住友金属矿山"）与丰田汽车就量产用于纯电动汽车（BEV）的全固态电池 正极材料达成合作协议。双方将通过此次合作推进研发进程。丰田汽车还在文内重申，计划于2027年至2028年间推出搭载全固态电池的纯电动汽车。 丰田汽车方面分析，全固态电池主要由正极、负极和固体电解质构成。作为下一代电池技术，全固态电池相较于当前使用液态电解液的传统电池，具有体 积更小、输出功率更高、寿命更长的潜力。应用于纯电动汽车时，全固态电池有望带来续航里程更长、充电时间更短、输出功率更高的性能提升。 2021年左右起，住友金属矿山便与丰田汽车围绕全固态电池正极材料展开联合研究，重点攻克反复充放电循环过程中正极材料劣化等难题。 为此，双方依托住友金属矿山独有的粉末合成技术（powder synthesis technology），成功开发出适用于全固态电池的新型"高耐久性正极材料"。 凭借在为各类电动汽车供应正极材料方面积累的超过20年经验，住友金属矿山致力于供应这款新开发的正极材料，并推动其实现量产。 图片：全固态电池结构示意图来源：丰田汽车全球官网 ...

Core Insights - Toyota Motor Corporation has announced a collaboration with Sumitomo Metal Mining Co., Ltd. to develop mass production of cathode materials for solid-state batteries intended for battery electric vehicles (BEVs) [1][3] - The company plans to launch BEVs equipped with solid-state batteries between 2027 and 2028 [1][3] Group 1: Solid-State Battery Technology - Solid-state batteries consist of a cathode, an anode, and a solid electrolyte, offering advantages over traditional liquid electrolyte batteries, such as smaller size, higher output power, and longer lifespan [3] - The application of solid-state batteries in BEVs is expected to enhance driving range, reduce charging time, and improve output power [3][5] Group 2: Research and Development Collaboration - Since around 2021, Sumitomo Metal Mining and Toyota have been jointly researching cathode materials for solid-state batteries, focusing on overcoming degradation issues during charge-discharge cycles [3][5] - The collaboration has led to the development of a new "high-durability cathode material" using Sumitomo's unique powder synthesis technology [3][5] Group 3: Future Goals and Strategic Importance - Both companies aim to enhance the performance, quality, safety, and reduce production costs of solid-state battery cathode materials [5] - The goal is to be the first globally to implement solid-state batteries in BEVs, which is believed to significantly impact the automotive industry and contribute to a carbon-neutral society [5] Group 4: Corporate Strategy - Toyota's Executive Vice President Hiroki Nakajima emphasized that solid-state batteries are a key pillar of the company's "multi-path strategy," which aims to provide suitable vehicle types based on regional energy structures [6][8] - The development of solid-state batteries is seen as a solution to critical challenges in BEVs, such as charging time and driving range [6][8]

Core Viewpoint - Toyota Motor Corporation announced a significant transaction to privatize its key supplier, Toyota Industries, for $26 billion (approximately 3.7 trillion yen), aiming to enhance strategic flexibility and control over its supply chain [2][3]. Group 1: Strategic Intent - The privatization aims to eliminate public market volatility and regulatory scrutiny, allowing Toyota to better align its strategic objectives [2]. - The acquisition is part of a broader strategy to consolidate supply chain resources and accelerate the transition to electrification, particularly in the context of semiconductor shortages and fluctuating material prices [3][6]. Group 2: Financial and Operational Impact - Toyota Industries, which generates annual revenue of 3.2 trillion yen (approximately $224 million), plays a crucial role in supplying key components for Toyota's core models, such as the RAV4 SUV [3]. - The integration of Toyota Industries' revenue into Toyota Motor's financials is expected to push the group's total revenue beyond $600 billion, surpassing Volkswagen [7]. Group 3: Historical Context and Governance - The acquisition is seen as a response to increasing scrutiny over corporate governance and the need to simplify complex cross-shareholding structures within the Toyota Group [4][7]. - The historical significance of Toyota Industries, founded by the great-grandfather of current chairman Akio Toyoda, underscores its importance within the Toyota family business structure [3][4]. Group 4: Industry Implications - This move may set a precedent for other automakers to follow suit in vertically integrating their supply chains, especially in light of the ongoing transformation towards electric and smart vehicles [8]. - The consolidation is expected to enhance operational efficiency and reduce research and development costs by approximately $500 million [7][8].