The two governments aim to create stable supply chains in Peru for critical minerals such as copper and zinc through technology provided by Japanese companies.
Battery swapping allows an electric vehicle to quickly exchange a discharged battery pack for a fully charged one, instead of recharging the vehicle at a static charging station.
The initiative aims to generate synergies between Toyota's expertise in zero- and low-emission vehicles, Mitsui's experience in strategic alliances, and Codelco's track record in the management of world-class mining operations.
This new agreement, says BHP, allows the companies to collaborate in support of project delivery, operations and maintenance, as well as progressing operational decarbonization efforts.