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Battery Systems, Supercapacitors & Solar

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Toyota to take full control of battery JV with Panasonic

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By Will Pulson - 6th April 2024

PEVE Hybrid Battery System

Japan - Toyota Motor Corporation (TMC), headquartered in Japan’s capital city Tokyo, plans to take full control of its Primearth EV Energy Company Ltd (PEVE) joint venture with Panasonic Holdings.

The joint venture was originally established with the Matsushita Group back in 1996 to produce batteries for hybrid vehicles, with Toyota holding a 40% stake. Matsushita later sold its stake in the joint venture and Toyota currently holds 80.5% of the shares and Panasonic the remaining 19.5%, following several increases in capital over the last two decades to help meet growing global demand.

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