Toyota Motor to Rename PEVE as Toyota Battery Company After Full Acquisition

2024/03/28
Cooperation
Toyota
Malaysia
Japan
Toyota Motor Corporation announced plans to rename its electric vehicle (EV) battery subsidiary, Primearth EV Energy (PEVE), to Toyota Battery Company Ltd. after acquiring all outstanding shares from joint venture partner Panasonic Holdings. Toyota is set to purchase Panasonic's 19.5% stake in PEVE by the end of the month, making the battery manufacturer a wholly-owned subsidiary. PEVE will continue to be headquartered in Kosai City, Shizuoka Prefecture, and primarily supply batteries to the Toyota Group. The name change will take effect from October 1, 2024, reflecting PEVE's growing role within the group. In addition to batteries for hybrid electric vehicles (HEVs), the company will also produce batteries for future full electric vehicles (BEVs) and plug-in hybrids (PHEVs), aligning with Toyota's shift towards low and zero-emission vehicles.
Click original text link for more information
JUST AUTO
Hot News
212 T01 60th Anniversary Edition Interior Revealed with Two-Tone Design and Exclusive Embroidery
The 212 T01 60th Anniversary Edition interior features a two-tone design with exclusive embroidery. Exterior adds commemorative graphics and soft-top. Dimensions are 4705/1895/1936mm with a 2860mm wheelbase, 40° approach and 36° departure angles. The 185kW 2.0T engine pairs with an 8AT, part-time 4WD, optional diff locks and OFFROAD mode, blending rugged capability with modern tech.
BYD Yuan MAX Spy Shots: Longer Wheelbase, Semi-Hidden Handles, Aiming at Song Pro
New spy shots reveal a heavily camouflaged BYD SUV bearing Yuan badges on wheels and steering wheel, hinting at a “Yuan MAX” slot. The model keeps Dragon Face cues, adopts semi-flush door handles and a stretched C-pillar, pushing length toward 4.7 m and wheelbase beyond 2 720 mm—positioning it between Yuan PLUS and Song Pro in BYD’s expanding SUV line-up.
Land Rover 2026 Plan: Range Rover EV Leads Six-Model Electric & Refresh Offensive
JLR’s 2026 roadmap confirms six debuts, headlined by the first-ever Range Rover EV. Built on MLA-Flex, the 117 kWh pack drives dual motors for 550 PS and 531 km WLTP range via 800 V architecture. Facelifted Range Rover and Sport gain a 12-inch standalone climate touchscreen, while an electric Velar joins the line-up, accelerating Land Rover’s full electrification push.
4
Fang Cheng Bao "Magnesium 9" Spy Shots: 2026 Slip-back Electric Coupe with LiDAR
Fang Cheng Bao's first sedan, codenamed "Magnesium 9", is set for a 2026 launch. The coupe-style EV features a closed grille, oval headlights, slip-back roof and hidden handles, plus a roof-mounted LiDAR for advanced ADAS. Dual powertrains—pure electric and DMO PHEV—are expected, with an estimated price range of RMB 200-300k, positioning it against rivals like the Xiaomi SU7 and Zeekr 001 .
5
Xpeng G7 EREV Debuts: 1.5T Range Extender, 5C Ultra-Fast Charge, 1 704 km Total Range
The Xpeng G7 EREV breaks cover with a 1.5T range extender and 5C ultra-fast-charge 800 V architecture, delivering 430 km electric plus 1 704 km combined range. Design tweaks include an unbroken light bar, active aero grille and new Star-Dusk Purple paint, cutting drag while positioning the SUV for anxiety-free long-distance EV travel.
6
Toyota Targets 10 Million Global Output in 2026 on Hybrid Surge
Toyota has instructed key suppliers to prepare for a 2026 global output of 10 million vehicles—up roughly 6% from an expected 9.94 million in 2025—citing surging hybrid demand, especially in the U.S. The plan secures long-term parts capacity for hybrids’ core components like E-CVT and power electronics, reinforcing Toyota’s lead as EV growth slows and its THS system delivers both fuel economy and cost competitiveness.
Copyright © RUNTO TECH LIMITED. All rights reserved.