Toyota is boosting its ability to mass-produce “a wide variety” of EV batteries following an agreement with Panasonic to take full control of Primearth EV Energy (PEVE). The move will help Toyota respond to the growing demand for batteries.
The automaker agreed with Panasonic to make Primearth EV Energy a wholly owned subsidiary Tuesday.
Toyota said the acquisition will strengthen its ability to mass produce EV batteries. It is officially scheduled for later this month.
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