Toppan Partners with Swedish Company for Battery Packaging Venture

Japanese packaging giant Toppan has recently announced a significant partnership with Toyo Seikan to establish a joint venture in Sweden. The deal, valued at ¥11 billion (€65 million), aims to focus on manufacturing and selling packaging specifically designed for automotive lithium-ion batteries.

The joint venture is scheduled to be operational by January 2025, with plans to commence manufacturing activities in 2026 or later. This strategic move underscores the companies' commitment to meeting the growing demand for advanced battery packaging solutions in the automotive sector.

Notably, Toppan Holdings and Toyo Seikan have a history of collaboration in this space. In 2011, they joined forces to create T&T Enertechno, a successful joint venture specializing in manufacturing packaging for lithium-ion batteries used in smartphones and electric vehicles in Japan. With Toyo Seikan holding a majority stake of 51% in the European venture, the partnership is poised for success.

The decision to establish the battery packaging joint venture in Sweden is influenced by the evolving regulatory landscape in the European Union. With stringent regulations aimed at reducing CO₂ emissions by 2035, there is a growing need for innovative packaging solutions for lithium-ion batteries. European automakers, in particular, are increasingly turning to square cans for battery packaging.

Furthermore, the proximity of manufacturing facilities to end-users has become a key consideration in the industry. By setting up operations in Sweden, Toppan and Toyo Seikan are strategically positioning themselves to cater to the demand for battery packaging in Europe efficiently and sustainably.