Toyota and Panasonic have teamed up during the press conference in Japan on Wednesday where Toyota President Akio Toyoda and Panasonic President Kazuhiro Tsuga announced a joint venture to evaluate the feasibility study of prismatic cell batteries.

The joint venture aims at creating robust solutions to address the increasing demand for electric vehicles and the diaspora of expectations associated with it. By 2030, Toyota is expecting to sell almost 4.5 million hybrid vehicles out of which 1.0 million would be electric and fuel cell vehicles. For this reason, the company is looking for enhanced battery products.

Toyota and Panasonic particularly mentioned the feasibility study of prismatic cell batteries for electric cars, which indicates the batteries will be a part of plug-in hybrids and other hybrid vehicles.

Toyota’s plan of seeking support from Panasonic will help meet its 2030 goals for improved batteries. “It would be difficult for us to meet our 2030 goals given the current pace of battery development,” Toyota President Akio Toyoda said at the announcement. “That’s why we’re looking to Panasonic and other companies to help us develop ever-better cars and batteries.”

The prismatic cell batteries will be productive for cars as the packaging and related costs are less compared to the traditional cylindrical cell versions. Toyota is also expected to manufacture more advanced solid-state batteries for its electric cars in future.