BEIJING, March 5 (AsianFin)—Toyota Motor Corporation announced on Tuesday its decision to acquire a 19.5% stake held by Panasonic in battery joint venture Primearth EV Energy. This move will turn Primearth EV Energy into a wholly-owned subsidiary of Toyota, strengthening its capacity for large-scale production of automotive batteries. The acquisition is expected at the end of March.PEVE is envisioned to start working on creating batteries for battery electric (BEV) and plug-in hybrid electric vehicles (PHEVs).