# Toyota to make Primearth EV Energy battery venture with Panasonic wholly owned subsidiary

Toyota Motor reached an agreement with Panasonic Holdings to make Primearth EV Energy Co, their joint venture, a wholly owned subsidiary of Toyota. The acquisition is expected in late March 2024.

- Type: Acquisition
- Announced: 2024-03-05
- Where: Japan
- Status: announced
- Products: batteries for electric vehicles, plug-in hybrid vehicles, gasoline hybrid vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Toyota Motor](https://endata.com/companies/962.md) (acquirer)
- [Panasonic](https://endata.com/companies/1026.md) (target)
- [Primearth EV Energy](https://endata.com/companies/75540.md) (target)

## Sources

- [reuters.com](https://www.reuters.com/markets/deals/toyota-make-battery-venture-with-panasonic-wholly-owned-subsidiary-2024-03-05/), 2024-03-05: "Toyota said on Tuesday it had reached an agreement with Panasonic Holdings to make one of their joint ventures the automaker's wholly owned subsidiary."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.