# TOPPAN and Toyo Seikan to form Swedish joint venture for EV battery packaging

TOPPAN Holdings and Toyo Seikan will sign a letter of intent to set up a joint venture in Sweden making lithium-ion battery packaging for automakers, with Toyo Seikan holding 51% and a planned total investment of about 11 billion yen.

- Type: Acquisition
- Announced: 2024-06-21
- Where: Sweden, Sweden
- Value: $70.0M (11.0B JPY)
- Status: announced
- Products: lithium-ion battery packaging, square cans for automotive batteries
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Toyo Seikan Group Holdings](https://endata.com/companies/2934.md) (partner)
- [Toppan](https://endata.com/companies/8217.md) (partner)

## Sources

- [holdings.toppan.com](https://www.holdings.toppan.com/en/news/2024/06/newsrelease240621_1.html), 2024-06-21: "TOPPAN Holdings Inc. (TYO: 7911) (TOPPAN Holdings) and Toyo Seikan Co., Ltd. (Toyo Seikan) will sign a letter of intent (LOI) on the establishment of a joint venture that will manufacture and sell packaging for automotive lithium-ion batteries in Sweden."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.