Toyota Motor Corporation (TSE:7203) agreed to acquire remaining 19.5% stake in Primearth EV Energy Co., Ltd. from Panasonic Holdings Corporation (TSE:6752) on March 5, 2024. Post the transaction, Primearth will become a wholly owned subsidiary of Toyota. The transaction is expected to close in late March.

The name of Primearth EV Energy will change to TOYOTA BATTERY Co., Ltd. from October 1, 2024 after approval from shareholders of Toyota Motor.