Toyota Motor Corporation (TMC) has announced that it has agreed with Panasonic Holdings Corporation (Panasonic HD) to make Primearth EV Energy (PEVE) a wholly-owned subsidiary in order to strengthen its automotive battery mass production capabilities.

Since 2010, PEVE has been 80.5% owned by Toyota and 19.5% by Panasonic HD.
The acquisition is expected to take place at the end of March.

In addition to HEV batteries, PEVE plans to start producing batteries for BEV and PHEV.

The company's transition to mass production of a wide variety of batteries for electric vehicles will enable Toyota to respond flexibly to growing demand for batteries, while also helping to further strengthen the competitiveness of mass production.

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