Toyota expands its own battery production

Toyota is expanding the production of its own hybrid and high-voltage batteries. At the end of the month, the car manufacturer will take over the Primearth EV Energy (PEVE) joint venture from Panasonic. The joint venture has so far only produced hybrid batteries. As a wholly-owned Toyota subsidiary, it will also enter into the production of high-voltage batteries for electric and plug-in hybrid vehicles. This is Toyota's response to the growing demand for electrified models.

However, Toyota Industries Corporation and Prime Planet Energy Solutions will also continue to supply batteries. Prime Planet Energy Solutions is also a joint venture with Panasonic, in which Toyota holds a majority stake of 51 percent. It produces both hybrid and high-voltage batteries for electric cars and plug-in hybrids. (aum)