Toyota to make battery venture with Panasonic wholly owned subsidiary

TOKYO : Toyota Motor acknowledged on Tuesday it had reached an settlement with Panasonic Holdings to win one amongst their joint ventures the automaker’s wholly owned subsidiary.

The agency, Primearth EV Vitality Co, plans to begin up manufacturing of batteries for electric vehicles and race-in hybrid vehicles on top of batteries for gasoline hybrid vehicles it already manufactures.

The acquisition is anticipated in leisurely March, Toyota acknowledged.