Toyota Acquires Primearth EV Energy to Boost EV Battery Production

The move aims to enhance Toyota's ability to mass-produce a wide variety of electric vehicle batteries amid growing demand.

Toyota acquires Primearth EV Energy from Panasonic, aiming to boost its EV battery production.
The acquisition will make Primearth EV Energy a wholly owned subsidiary of Toyota, enhancing its ability to mass-produce a wide variety of EV batteries.
Toyota's next-gen EV batteries, expected by 2026, promise nearly 500 mi WLTP driving range and 20-minute fast charging.
Despite the push for EVs, Toyota's CEO believes EVs will only account for 30% of US new car sales by 2030.
Toyota's move to strengthen its EV battery production comes amid growing demand and competitive pressure from other automakers.