‘Toyota takes part of Panasonic’s battery production’

Toyota is buying Panasonic to become the full owner of the Primeearth EV Energy Co (PEVE) joint venture, Reuters reports. The acquisition gives the automaker greater control over battery production, which is crucial for the global rollout of the next generation of Japanese EVs.

The joint venture was established 28 years ago to jointly manufacture batteries. Over the years, Toyota took an increasing share in PEVE. In 2006 Toyota had a share of 60 percent, in 2010 the share was already 80 percent.

Hybrid batteries

PEVE currently supplies batteries for Toyota hybrids (plug-in). The joint venture is preparing to produce batteries for battery-powered vehicles. The joint venture’s fourth factory will open this year. With the acquisition of PEVE, Toyota gains more flexibility in the choice of battery technology and battery production costs.

Solid-state

In addition to the PEVE acquisition, Toyota is working with Japanese company Idemitsu Kosan Co to mass produce solid-state batteries for electric vehicles. With solid state technology, Toyota wants to have a battery on the market with a range of one thousand kilometers by 2026.

According to RDC figures, 18,045 Toyota hybrid models will be registered in the Netherlands in 2023. In addition, 1,844 fully electric cars of the Japanese brand were registered and 39 hydrogen cars.