Earlier this month, Toyota announced that it had agreed with Panasonic to make affiliated company Primearth EV Energy (PEVE) a wholly-owned subsidiary in order to strengthen its capabilities in mass-producing automotive batteries.
That acquisition has now been completed, and the automaker says that it intends to change the PEVE company name to Toyota Battery from October 1 this year. Toyota said that the new company name embodies its determination to leverage the technology and skills honed since PEVE’s establishment in 1996 to broaden its scope of battery manufacturing.
In addition to manufacturing batteries for hybrid vehicles, Toyota said it plans to have PEVE begin producing batteries for battery EVs and plug-in hybrids. The company said the shift into mass-producing a wide variety of electric vehicle batteries will enable it to respond flexibly to growing battery demand. The company’s headquarters will remain in Kosei city, Shizuoka prefecture.
When the company was originally established, it was known as Panasonic EV Energy, and Toyota only had a 40% share in it (Panasonic had the other 60%), but by 2005 Toyota had increased its share in the company to 60%, and by 2010, the automaker further increased its share in the company, which was then renamed Primearth, to 80.5%.
Primearth isn’t the only occasion that Toyota and Panasonic have cooperated on battery development. In 2020, both companies announced the establishment of Prime Planet Energy & Solutions, a joint venture specialising in automotive prismatic lithium-ion batteries.
The post Toyota fully acquires Primearth EV Energy from Panasonic, to rename company as Toyota Battery appeared first on Paul Tan's Automotive News.
Commercials Cooperation Advertisements:
(1) IT Teacher IT Freelance
立刻註冊及報名電腦補習課程吧!
电子计算机 -教育 -IT 電腦班” ( IT電腦補習 ) 提供一個方便的电子计算机 教育平台, 為大家配對信息技术, 電腦 老師, IT freelance 和 programming expert. 讓大家方便地就能找到合適的電腦補習, 電腦班, 家教, 私人老師.
We are a education and information platform which you can find a IT private tutorial teacher or freelance.
Also we provide different information about information technology, Computer, programming, mobile, Android, apple, game, movie, anime, animation…
(2) ITSec
www.ITSeceu.uk
Secure Your Computers from Cyber Threats and mitigate risks with professional services to defend Hackers.
ITSec provide IT Security and Compliance Services, including IT Compliance Services, Risk Assessment, IT Audit, Security Assessment and Audit, ISO 27001 Consulting and Certification, GDPR Compliance Services, Privacy Impact Assessment (PIA), Penetration test, Ethical Hacking, Vulnerabilities scan, IT Consulting, Data Privacy Consulting, Data Protection Services, Information Security Consulting, Cyber Security Consulting, Network Security Audit, Security Awareness Training.
Contact us right away.
Email (Prefer using email to contact us):
SalesExecutive@ITSec.vip