Toyota to make battery venture with Panasonic wholly owned subsidiary

The firm, Primearth EV Energy Co, plans to begin production of batteries for electric vehicles and plug-in hybrid vehicles on top of batteries for gasoline hybrid vehicles it already manufactures.

Reuters

March 05, 2024 / 14:13 IST

Toyota to make battery venture with Panasonic wholly owned subsidiary

Toyota Motor said on Tuesday it had reached an agreement with Panasonic Holdings to make one of their joint ventures the automaker's wholly owned subsidiary.

The firm, Primearth EV Energy Co, plans to begin production of batteries for electric vehicles and plug-in hybrid vehicles on top of batteries for gasoline hybrid vehicles it already manufactures.

The acquisition is expected in late March, Toyota said.

Reuters

first published: Mar 5, 2024 02:13 pm

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