The JV is set to commence operations in 2026 or later. Credit: TOPPAN Holdings.

Integrated solutions provider Toppan Holdings and Toyo Seikan, a Japanese packaging manufacturer, have announced their intention to sign a letter of intent for the creation of a joint venture (JV) in Sweden.  

This partnership aims to manufacture and sell packaging specifically designed for automotive lithium-ion batteries. 

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Operations of the unnamed JV is expected to commence in 2026 or later. 

Toyo Seikan will own 51% of the JV while the remaining 49% will be held by TOPPAN Holdings. 

The companies plan to invest approximately Y11bn ($68.6m) in the venture.  

The collaboration is a strategic response to the growing demand for electric vehicles (EVs) and the push towards carbon neutrality. 

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The EU’s commitment to zero-emission vehicles by 2035 has particularly accelerated the need for efficient battery packaging solutions. 

TOPPAN and Toyo Seikan have a history of partnership, having established T&T Enertechno as a JV in 2011. 

T&T Enertechno was created to produce packaging for lithium-ion batteries for smartphones and EVs in Japan. 

The proposed Swedish JV is an extension of this successful collaboration, aiming to meet the European demand for square cans used in lithium-ion batteries. 

The establishment of the JV in Sweden is also a move to address the need for production closer to the European carmakers, enhancing transportation efficiency. 

TOPPAN and Toyo Seikan are poised to contribute to the region’s carbon-neutrality goals through their expertise in the lithium-ion battery sector. 

Founded in 1900 in Tokyo, Japan, TOPPAN offers sustainable, integrated solutions across various sectors, including packaging.  

The company has a workforce of more than 50,000.