Prime Planet Energy & Solutions, Inc. (PPES)

Company Profile

■URL

https://www.p2enesol.com/en/

■Address

13F Nihonbashi Mitsui Tower, 2-1-1, Nihonbashi-Muromachi, Chuo-ku, Tokyo 103-0022, Japan

Business Overview

-A joint venture company for automotive prismatic batteries established by Toyota and Panasonic.

-The company develops, manufactures, and sells high-capacity and high-power automotive prismatic lithium-ion batteries and next-generation automotive batteries (including batteries based on new principles).

Main models equipped

Toyota: MIRAI, RAV4 PHV, Lexus NX450h+, bZ4X, Voxy/Noah Hybrid、Lexus RZ450e
Suzuki: ACROSS PHV, Landy Hybrid

Shareholders

-Unlisted

(As of Mar. 31, 2025)

Name or Company Name	Investment Ratio (%)
Toyota Motor Corp.	51.0
Panasonic Holdings	49.0

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Products

-Prismatic lithium-ion batteries

-High-capacity rectangular batteries for BEVs and PHVs
-High-output batteries for HVs

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History

Dec. 2017	Toyota and Panasonic have agreed to cooperate in developing prismatic batteries for vehicles
Jan. 2019	Both companies have agreed to establish a joint venture related to the automotive prismatic battery business
Apr. 2020	The Company started operations.

Date	Activity
Oct. 2005	Announced the increase of its stake in Panasonic EV Energy (Kosai City, Shizuoka Prefecture), which manufactured and sold batteries for HVs, to 60%.
Apr. 2010	Announced that it has increased its shareholding in Panasonic EV Energy Co., Ltd. (PEVE) to 80.5%.
Jun. 2013	Toyota to establish a joint venture company in Changshu, Jiangsu Province, with Hunan Corun New Energy Co., Ltd., a Chinese battery manufacturer, to manufacture nickel metal hydride batteries for HV use.
Nov. 2013	Announced that it established a joint venture (JV), Sinogy Toyota Automotive Energy System Co., Ltd. (STAES), to produce hybrid batteries in China.
Mar. 2019	Toyota announced that it has agreed with Suzuki Motor Corporation to begin specific studies on collaboration in the areas of development and production.
Apr. 2019	As part of the company's efforts to promote the use of electric vehicles, the company announced that it will offer free of charge its sole patent license for vehicle electrification technology.
Jun. 2019	Announced that it will procure electric vehicle (EV) batteries from Contemporary Amperex Technology Co., Ltd. (CATL), BYD, Toshiba Corporation, GS Yuasa International Ltd. and Toyota Industries Corporation.
Jun. 2019	Announced the company will expand its Toyota ZEV Factory, which it established with the aim of speeding up decision-making.

Date	Activity
Dec. 1996	Established Panasonic EV Energy Co., Ltd.
Aug. 2004	Matsushita Battery Industrial announced that it would spin off its automotive battery business, which was handled by the Storage Battery Business Unit and other units, and establish a new company, Panasonic Storage Battery, in October.
Nov. 2007	Matsushita Battery Industrial Co., Ltd. announced that it will build a new lithium-ion battery production facility at the Wakayama Plant (Kinokawa City, Wakayama Prefecture) and boost its domestic production capacity.
May 2008	Panasonic EV Energy Co., Ltd. announced that it will establish a new plant in Miyagi prefecture to produce nickel metal hydride batteries for hybrid vehicles.
Jan. 2010	Panasonic and Tesla Motors announced that the two companies will collaborate in the development of EV batteries.
Jan. 2010	Panasonic EV Energy Miyagi Plant started production
Mar. 2010	Announced that it will start mass production of lithium-ion battery cells April 2010 at its new Suminoe Factory.
Jun. 2010	Panasonic EV Energy Co., Ltd. announced that it changed its name to Primearth EV Energy Co., Ltd.
Oct. 2010	Panasonic Liquid Crystal Display Co., Ltd. established in Himeji City, Hyogo Prefecture.
Nov. 2010	Announced that Panasonic and Tesla Motors have signed an agreement on capital collaboration.
Feb. 2011	Announced that it will transfer its automotive nickel-metal-hydride battery business handled at its Shonan Plant (Chigasaki City, Kanagawa Prefecture) to Hunan Corun New Energy Co., Ltd. in China.
Oct. 2011	Panasonic and Tesla Motors finalized a supply agreement for automotive-grade lithium-ion battery cells.
Nov. 2011	Announced that it will supply lithium-ion batteries for Toyota Motor Corporation's Prius Plug-in Hybrid.
Sep. 2012	Announced that its lithium-ion batteries have been chosen for Toyota Motor Corporation's “eQ” electric car.
Apr. 2013	Announced that it will supply its nickel-metal hydride (Ni-MH) battery systems for Fuji Heavy Industries' Subaru XV Crosstrek Hybrid for sales in the U.S. market.
Nov. 2013	The Company and Tesla Motors announced that the two companies have reached an agreement, under which Panasonic will expand its supply of lithium-ion battery cells to the electric vehicle manufacturer.
Oct. 2014	The Company announced that it has set up a new company, Panasonic Energy Corporation of North America (PENA), to produce and sell lithium-ion batteries for Tesla Motors in Sparks, Nevada, USA.
Feb. 2016	Announced that it established a joint venture company "Panasonic Automotive Energy Dalian Co., Ltd." (now Prime Planet Energy Dalian Co., Ltd.) to manufacture square-shaped lithium-ion batteries in Dalian, China. The JV is capitalized with Panasonic Corporation and Dalian Levear Electric Co, Ltd. each investing 50%.
Oct. 2017	Announced that its subsidiary, Panasonic Liquid Crystal Display Co., Ltd., will start production of automotive square lithium-ion batteries (LiBs) at its Himeji Plant.
Mar. 2018	Announced that an automotive battery joint venture has started volume shipment at its new automotive lithium-ion battery (LiB) plant in Dalian. Panasonic has established an automotive LiB production system covering Japan, the U.S., and China.

Date	Activity
Aug. 1964	Sumoto Plant opened. Mass production of nickel-cadmium batteries begins.
1985	Tokonabe Plant (currently Kasai Plant) begins operations.
1988	Tokushima Plant begins operations.
Oct. 2000	Agreed to acquire Toshiba Battery's nickel metal hydride battery business from Toshiba.
Jan. 2001	Announced that it will exclusively supply HV battery systems for Ford's Escape HEV
Oct. 2003	Announced the construction of a new plant on the Tokushima plant site, the core production base for lithium-ion batteries.
Oct. 2004	Agreed with Daimler to study the joint development of rechargeable batteries for HVs
May 2008	Announced that Sanyo Electric and Volkswagen have agreed on a joint project to develop lithium-ion batteries for use in hybrid vehicles.
Dec. 2008	Panasonic Corp. and Sanyo Electric Co., Ltd. announced that they have officially concluded the capital and business alliance agreement.
Oct. 2009	A new plant for the production of lithium-ion batteries for HVs was established at the Kasai Plant in Hyogo Prefecture.
May 2010	Announced that it is aiming for a 40% share of the global automotive rechargeable battery market in FY2020
Dec. 2010	Announced the completion of a new technology building for the research and development of lithium-ion batteries, which has been under construction in its Tokushima factory (Matsushige-cho, Tokushima Prefecture)
Apr. 2011	Panasonic makes Sanyo Electric a wholly owned subsidiary