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TOKYO – Toyota Motor mentioned Tuesday it has reached an settlement with Panasonic Holdings to make one among its joint ventures an entirely owned subsidiary of the automaker.
The agency, PrimeEarth EV Vitality Firm, plans to start producing batteries for electrical autos and plug-in hybrid autos on prime of batteries for gasoline hybrid autos already manufactured.
Toyota mentioned the acquisition is predicted to shut in late March.
(Reporting by Satoshi Sugiyama; Modifying by Christopher Cushing)