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
AION UT 530 CATL Edition Launched at 2026 Chengdu Auto Show, Yuexiang Used Car Business Unveiled
During 2026 Chengdu Auto Show, AION UT 530 CATL Edition was launched with a limited-time price of 85,800 yuan, featuring 530km CLTC range. Meanwhile, Hyper and AION jointly launched Yuexiang used car business, covering full-cycle services of vehicle selection, purchase and usage.
Haval H9 Lihun Edition Unveiled at 2026 Chengdu Auto Show, to Be Launched on August 24
During 2026 Chengdu Auto Show on August 22, Haval H9 Lihun Edition made its debut. As a new off-road-focused variant, it offers two exclusive paint colors, 800mm wading depth, 2.5-ton towing capacity and two powertrain options, and will be officially launched on August 24.
BAIC Taitan 700 Makes Public Debut at 2026 Chengdu Auto Show, to Be Officially Launched on August 25
At 2026 Chengdu Auto Show on August 21, BAIC Taitan 700 made its public debut. The pre-sale has already started with price range 299,800-389,800 yuan. Equipped with Huawei ADS 5 system and 896-line LiDAR, it is powered by 1.5T range-extender with 1340km CLTC total range, becoming the first luxury off-road SUV with full-scenario off-road NOA.
4
Deepal L06 New Special Edition Officially Released at 2026 Chengdu Auto Show
At 2026 Chengdu Auto Show, the new special edition of Deepal L06 was officially released. Based on the existing Deepal L06, it is fully equipped with track-oriented aero kits and a carbon fiber large rear wing generating up to 1000N downforce, significantly enhancing cornering performance and high-speed driving stability.
5
BYD Ocean Flagship SUV Sea Lion 08 Officially Debuts at 2026 Chengdu Auto Show
At 2026 Chengdu Auto Show, BYD all-new mid-large flagship SUV Sea Lion 08 made its official debut. As the Ocean series flagship, it offers PHEV and BEV powertrains, 2nd-gen Blade Battery, God's Eye 5.0 ADAS, 900km max CLTC BEV range, with 5/6-seat dual layouts.
6
JETOUR Traveler G700 WINBO Co-created Moab Edition Makes Debut at 2026 Chengdu Auto Show
At the 2026 Chengdu Auto Show on August 21, JETOUR Traveler G700 WINBO Co-created Moab Edition made its debut. Positioned as a mid-large PHEV off-road SUV, it is equipped with Kunpeng PHEV system, delivering 560kW total power, 1400km total range, and features tank turn and wading navigation tech.
Copyright © RUNTO TECH LIMITED. All rights reserved.