Toyota Motor Corporation has announced that Primearth EV Energy Co., Ltd. (PEVE) will become a fully-owned subsidiary of Toyota Motor and will be known as TOYOTA BATTERY Co., Ltd., effective October 1, 2024.
The new company name reflects a commitment to utilizing the technology and expertise cultivated since PEVE’s inception in 1996, aiming to enhance the competitiveness of Japanese batteries. The goal is to evolve into a provider of high-quality and exceptionally safe on-board batteries. Alongside batteries for Hybrid Electric Vehicles (HEVs), the company will also produce batteries for Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs).
The headquarters will remain in Kosai City, Shizuoka Prefecture, symbolizing the dedication to the legacy of Sakichi Toyoda, the Toyota Group’s founder.
