TOKYO – Toyota Motor mentioned on Tuesday it had reached an settlement with Panasonic Holdings to make one among their joint ventures the automaker’s wholly owned subsidiary.
The agency, Primearth EV Vitality Co, plans to start manufacturing of batteries for electrical automobiles and plug-in hybrid automobiles on prime of batteries for gasoline hybrid automobiles it already manufactures.
The acquisition is anticipated in late March, Toyota mentioned.
(Reporting by Satoshi Sugiyama; Enhancing by Christopher Cushing)
