TOKYO – Toyota Motor stated on Tuesday it had reached an settlement with Panasonic Holdings to make certainly one of 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 high of batteries for gasoline hybrid automobiles it already manufactures.
The acquisition is predicted in late March, Toyota stated.
(Reporting by Satoshi Sugiyama; Enhancing by Christopher Cushing)
