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Toyota Motor Corporation announces a significant transformation in its battery production strategy, reflecting its commitment to sustainability and innovation in the automotive industry. Primearth EV Energy Co., Ltd. (PEVE), previously focused on hybrid vehicle batteries, is set to become a fully integrated part of Toyota as TOYOTA BATTERY Co., Ltd. This change, effective from October 1, 2024, signifies Toyota’s strategic enhancement of its battery production capabilities across a broad spectrum of electric vehicles (EVs).
Key Highlights:
- PEVE to be renamed TOYOTA BATTERY Co., Ltd. in a strategic move to bolster Toyota’s battery production.
- Expanded battery production to include Hybrid Electric Vehicles (HEVs), Battery Electric Vehicles (BEVs), and Plug-in Hybrid Electric Vehicles (PHEVs).
- Headquarters to remain in Kosei City, Shizuoka Prefecture, honoring the legacy of Toyota Group’s founder, Sakichi Toyoda.
A Strategic Enhancement for Toyota’s Electric Future
The announcement came with a pledge to leverage PEVE’s longstanding expertise in battery technology to support Toyota’s diverse approach to electrification. The shift is a strategic response to the increasing demand for electric vehicles, aiming to enhance the competitiveness of Japanese batteries and ensure the production of high-quality, safe batteries for a range of EVs.
Masamichi Okada, the President and Representative Director of the newly named TOYOTA BATTERY Co., Ltd., highlighted the company’s mission to “create new value and be useful to society” by producing next-generation batteries. The move is also a nod to the company’s heritage and its ongoing commitment to sustainability and community well-being in Kosei City, the cradle of the Toyota Group.
The Future of TOYOTA BATTERY Co., Ltd.
- President and Representative Director: Masamichi Okada
- Headquarters: 20 Okazaki, Kosei City, Shizuoka Prefecture
- Production Focus: Batteries for HEVs, BEVs, PHEVs
- Main Customer: Toyota Motor Corporation
This strategic rebranding and expansion of battery production capabilities underscore Toyota’s adaptation to the evolving automotive landscape and its dedication to leading the charge in the transition to more sustainable transportation solutions.
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