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
Hongqi Signs MoU with Quill Group to Enter Malaysia Market Officially
Hongqi, a luxury brand of FAW Group, has signed an MoU with Quill Group, which has obtained the exclusive rights as the official importer and CKD distributor for Hongqi’s entry into Malaysia. Hongqi plans to launch officially in Malaysia in the middle of this year, with its L5 model for VVIPs only, and is advancing the global layout of new energy SUVs.
Four New Ford Ranger Variants Launched in Malaysia from RM 127,888, All Turbodiesel
Ford Malaysia has launched four new Ranger variants, all turbodiesel-powered, priced from RM 127,888 to RM 205,888. The Platinum 3.0 (RM 205,888) is now the priciest non-Raptor Ranger, featuring a 3.0L V6 turbodiesel producing 250 PS and 600 Nm, paired with a 10-speed automatic and full-time four-wheel drive with an electromagnetic transfer case and electronic rear diff lock. The Sport 3.0 (RM 159,888) and Sport 2.0 (RM 145,888) slot above XLT Plus but below WildTrak. The XL 2.0 (RM 127,888) is a re-launch of the base workhorse variant, now RM 8,000 dearer than before. With over a dozen Ranger variants now available in Malaysia including the Raptor, the lineup comprehensively covers diverse consumer needs.
Arcfox Malaysia Enters Preparatory Stage with GoAuto Group Distribution, Social Media Pages Launched
BAIC's new energy brand Arcfox has added Malaysia to its global website's coverage markets and launched dedicated social media pages on Facebook, Instagram, and Threads, entering the preparatory stage for market entry. Arcfox Malaysia will be distributed by GoAuto Group, whose subsidiary Intro Synergy was appointed Neta's Malaysian distributor in 2023 and currently also represents Higer and Yutong Bus commercial vehicles. Arcfox plans to expand across six global regions and over 40 countries. The current product lineup showcased on its website includes the T1, T5, and Kaola S SUVs, plus the S5 pure electric sedan—all potential candidates for the Malaysian market. The S5 mid-size sedan measures 4,820/1,930/1,480 mm with a 2,900 mm wheelbase and 19-inch wheels, offering nine drive modes and Level 2+ ADAS. The AWD variant produces 390 kW (530 PS) and 690 Nm, achieving 0-100 km/h in 3.7 seconds with a 74.4 kWh LFP battery and DC fast charging from 30-80% in approximately 6 minutes. The T1 compact SUV measures 4,337/1,860/1,572 mm with a 2,770 mm wheelbase and 18-inch wheels.
4
Jetour Malaysia Teases New Premium Off-Road SUV G700, Positioned Above T2
Jetour Malaysia teased a new premium off-road SUV at the T1 launch event, expected to be the G700. Previously displayed at the Kuala Lumpur International Mobility Show and Auto China in Beijing, the vehicle measures 5,198/2,050/1,956 mm with a 2,870 mm wheelbase—positioned above the T2 (4,785/2,006/1,870 mm, 2,800 mm wheelbase) with the T1 being smaller still. The G700 will further expand Jetour's premium off-road SUV portfolio in Malaysia, addressing demand for large, rugged off-road vehicles.
5
Updated Li Auto MEGA Home Interior Revealed with Upgraded Second-Row Luxury Seats, Aligning with New L9
The updated Li Auto MEGA Home interior has been revealed, featuring significant second-row luxury upgrades over the current model. The new diamond-quilted seats with thicker padding include exclusive Home embroidery on the headrests, with extended seat tracks for greater flexibility. The second-row center console screen has grown larger with upgraded color controls, while new additions include a vanity mirror, an expanded tray table, and redesigned air vents. The interior aligns with the new Li Auto L9, introducing a full-width integrated screen. For reference, the current MEGA Home features electrically rotatable dual zero-gravity seats with 18-point hot stone massage and a 21.4-inch 3K LCD rear screen. Exterior updates to the front fascia are also expected.
6
2027 Jetour T2 Opens for Booking in UAE with Comprehensive Interior Upgrades
Jetour UAE has announced via Instagram that the 2027 Jetour T2 is now open for booking. Photos reveal minimal exterior changes beyond a subtle tailgate spoiler, with upgrades focused primarily on the interior. Front door cards feature quilted inserts matching new quilted leather seats with added massage functionality, while a grab handle has been added to the passenger side. Driver door window switches and center console switchgear have been redesigned, and the center armrest box now opens sideways toward the driver (previously upward). A redesigned touchscreen area also appears, significantly enhancing interior quality and practicality.
Copyright © RUNTO TECH LIMITED. All rights reserved.