Toyota announces that Primearth EV Energy (PEVE) will become a wholly-owned subsidiary of Toyota Motor and will change its name to 'Toyota Battery' as of October 1.

'The new company name embodies our determination to leverage the technology and skills acquired since PEVE was founded in 1996 to contribute to the competitiveness of Japanese batteries and become a company supplying high-quality, highly safe in-vehicle batteries', said the Japanese automaker.

In addition to batteries for hybrid electric vehicles (HEVs), we plan to produce batteries for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Through our efforts in the production of diverse, next-generation on-board batteries, we hope to create new value and benefit society', adds Toyota.

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