Press Release
191KB
march 05, 2024 - Toyota
TMC Strengthens Battery Production Capabilities
Toyota Motor Corporation (TMC) has agreed with Panasonic Holdings Corporation (Panasonic HD) to make Primearth EV Energy Co., Ltd. (PEVE) a wholly owned subsidiary in order to strengthen its capabilities in mass-producing automotive batteries. The acquisition is scheduled to take place in late March.
Among Toyota-affiliated companies, currently PEVE, Toyota Industries Corporation, and Prime Planet Energy & Solutions, Inc. (ownership: Toyota 51%, Panasonic HD 49%) mass produce batteries for hybrid electric vehicles (HEVs), with the latter also making batteries for battery electric (BEV) and plug-in hybrid electric vehicles (PHEVs). Toyota will continue collaborating with these companies in battery mass production and development.
In addition to HEV batteries, PEVE plans to begin producing batteries for BEVs and PHEVs. The company's shift into mass-producing a wide variety of electric vehicle batteries will enable Toyota to respond flexibly to growing battery demand, while also helping to further boost mass-production competitiveness.
More competitive batteries will enhance the appeal of Toyota's electric vehicle offerings and contribute to achieving carbon neutrality through a multi-pathway approach.
PEVE overviewNameEmployeesHistory
| Primearth EV Energy Co., Ltd. (name change under consideration) |
| Approx. 4,700 |
| Dec 1996Panasonic EV Energy Co., Ltd. established (Ownership: Toyota 40%, Panasonic HD 60%*) Oct 2005Increased capitalization due to HEV market expansion. Ownership following Toyota's capital increase: Toyota 60%, Panasonic HD 40%* Jun 2010Company renamed Primearth EV Energy Co., Ltd. Ownership following Toyota's capital increase: Toyota 80.5%, Panasonic HD 19.5% |
*
| At the time, Matsushita Group (Matsushita Electric Industrial Co., Ltd. & Matsushita Battery Industrial Co., Ltd.) |
Related news |
||
|
|
|
april 26, 2024
|
april 03, 2024
|
march 22, 2024
|
|
Toyota will prepare for assembly of an all-new, three row battery electric SUV in the U.S. as part of a new $1.4 billion investmen... |
Driving vehicle development as a place where roads refine cars and the people who make carsToyota City, Japan, April 2, 2024―Toyot... |
Toyota City, Japan, March 22, 2024―Toyota Motor Corporation will sign a new agreement with Keikyu Corporation in relation to the a... |
Download all 
You might be interested in |
||
|
|
|
february 05, 2024
|
october 13, 2023
|
october 05, 2023
|
|
Fusing fuel cell and plant construction technologies for hydrogen production markets in Japan and overseasChiyoda Corporation (her... |
“I was stunned. That’s all I can say right now,” was the first thing out of the interviewer’s mouth in his conversation with Akio ... |
Two global leaders join forces to drive the future growth of battery electric vehicles in the U.S.LG Energy Solution to supply #to... |
Italian 
Download all 
Share
Share via mail 
Automotive
Sport
Events
Art&Culture
Design
Fashion&Beauty
Food&Hospitality
Technology
Nautica
Racing
Excellence
Corporate
OffBeat
Green
Gift
Pop
Heritage
Entertainment
Health & Wellness