(CercleFinance.com) – Toyota announces that Primearth EV Energy (PEVE) will become a wholly owned subsidiary of Toyota Motor and will change its name to ‘Toyota Battery’ effective October 1.
‘The new company name embodies our determination to leverage the technology and skills acquired since the establishment of PEVE in 1996 to contribute to the competitiveness of Japanese batteries and become a company providing high-quality and highly safe on-board batteries ‘, indicated the Japanese manufacturer.
‘In addition to batteries for hybrid electric vehicles (HEV), we plan to produce batteries for battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV). Through our efforts in producing diverse and next-generation on-board batteries, we hope to create new value and be useful to society,’ Toyota added.
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