• Kyodo

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Japan’s major auto and battery manufacturers, including Toyota Motor Corp., Honda Motor Co. and Panasonic Corp., are considering joint procurement of cobalt, an essential resource for batteries that power electric vehicles, sources said Tuesday.

The envisioned joint venture is likely to be set up in a year or so, with each participating company buying a stake of up to around 10 percent, the sources said, at a time when Chinese companies are snapping up cobalt supplies around the world.

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