Toyota Battery Co., Ltd

What Toyota Battery Co., Ltd does

Toyota Battery Co., Ltd., headquartered in Kosai City, Shizuoka Prefecture, Japan, develops, manufactures, and sells automotive nickel-metal hydride (NiMH) and lithium-ion (Li-ion) batteries, along with battery management systems (BMS) and commissioned battery pack testing services. Originally established in 1996 as Prime Earth EV Energy Co., Ltd. (PEVE) through a joint venture between Toyota Motor Corporation and Panasonic Holdings, the company has produced automotive batteries since 1997 and reached a cumulative 30 million units by May 2026. The company became a wholly-owned subsidiary of Toyota Motor Corporation and rebranded as Toyota Battery Co., Ltd. on October 1, 2024. Its product portfolio spans multiple generations of NiMH modules (NP2, NP2.5) and Li-ion batteries (3rd generation launched 2015/2019; 4th generation launched 2023), serving HEV, PHEV, BEV, and FCEV vehicle programs.

The company operates a multi-factory manufacturing footprint in Japan — including the Omori headquarters site, Sakaijuku facility, KOSAI Battery Park (new Shin-Ii Factory, with Factory 1 operational February 2024 and Factories 2 and 3 planned), and the Miyagi Factory (with seven production buildings producing NiMH and Li-ion battery packs) — as well as a joint venture in Changshu, China (CPAB) producing NiMH modules. Technical capabilities include ISO/IEC17025 accredited battery pack testing, model-based development with material-level atomic simulation, and digital twin technologies. The company employs 5,783 people as of June 2026, with ~24% CO2 reduction achieved through co-developed high-temperature heat pump technology in new Li-ion factories, and government recognition under METI's Battery Supply Assurance Plan.

Toyota Battery operates as a captive B2B OEM-embedded supplier, selling batteries and BMS exclusively to automotive manufacturers — primarily its parent Toyota Motor Corporation — under long-term direct supply agreements. Pricing is not publicly disclosed and is negotiated through OEM contracts. A secondary revenue stream comes from commissioned battery pack testing services using proprietary large-format battery testing facilities, though new testing requests are currently suspended due to high demand. Revenue for FY2025 was 292.9 billion JPY (~$1.9B USD). The business model is structurally subordinated to Toyota's multi-pathway electrification strategy, with no disclosed independent customer diversification or consumer-facing distribution.

Name

Toyota Battery Co., Ltd

Legal name

Toyota Battery Co., Ltd.

Website

https://toyota-battery.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Toyota Battery Co., Ltd. is a wholly-owned Toyota Motor Corporation subsidiary that develops, manufactures, and sells nickel-metal hydride and lithium-ion batteries for HEV, PHEV, and BEV vehicles, operating multi-factory production in Japan and a China JV, with FY2025 revenue of ¥292.9 billion.

Ownership category

akta.pro rank

Product category

Automotive Batteries

NAICS

Battery Manufacturing (33591)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)

akta.pro secondary industries

Battery Cell Manufacturing (EV) (IMACACAB), Battery Pack & Module Manufacturing (EV) (IMACACAA), Battery Management System (BMS) & HV Control Electronics Manufacturing (IMACACAH), EV & Hybrid Battery Service, Diagnostics & Reconditioning (TLAKAMAA)

Keywords

• Automotive batteries
• Nickel-metal hydride batteries
• Lithium-ion batteries
• Battery management systems
• Battery pack testing

Headquarters

HQ city

Kosai

HQ country

Japan

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Battery Sales (NiMH & Li-ion): Development, manufacturing, and sale of nickel-metal hydride (NiMH) batteries and lithium-ion batteries for hybrid vehicles (HEV), plug-in hybrid vehicles (PHEV), and battery electric vehicles (BEV). Products are sold directly to automotive OEMs, primarily Toyota Motor Corporation. Revenue is generated through long-term supply contracts with vehicle manufacturers as an embedded component supplier.
2. Commissioned Battery Pack Testing Services: Conducts functional and safety testing of automotive battery packs on a commissioned basis. Uses proprietary testing facilities and equipment designed specifically for large-format automotive batteries, applying accumulated expertise as a battery manufacturer. Note: Currently, acceptance of new testing requests is suspended due to high demand.
3. Battery Management System Sales: Development, production, and sale of battery management systems (BMS) integrated with battery packs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Toyota Battery Co., Ltd develops, manufactures, and sells nickel-metal hydride (NiMH) and lithium-ion (Li-ion) batteries, along with battery management systems (BMS), for hybrid (HEV), plug-in hybrid (PHEV), and battery electric vehicles (BEV). It also provides commissioned battery pack testing services to external clients using proprietary facilities. The company operates as an embedded OEM supplier, primarily to Toyota Motor Corporation.

Differentiator

Problem solved

Functional benefit

Products and services

• Nickel-Metal Hydride (NiMH) Batteries Square NiMH battery modules (NP2, NP2.5) for hybrid electric vehicles (HEV). Sold to automotive OEMs, primarily Toyota Motor Corporation, as embedded battery systems. Over 25 years of market track record with continuous performance improvements.
• Lithium-Ion (Li-ion) Batteries Multi-generation Li-ion battery systems powering HEV, PHEV, and BEV vehicle models. Features top-tier input/output power, stable global operation, and improved energy density through successive generations.
• Battery Management Systems (BMS) In-house developed battery management systems that monitor and control battery pack operations, sold integrated with battery packs for automotive applications.
• Commissioned Battery Pack Testing Services Functional and safety testing of automotive battery packs using proprietary ISO/IEC17025-accredited testing facilities and equipment designed for large-format automotive batteries. Services offered on a commissioned basis to external companies; currently suspended for new requests due to high demand.

Quantifiable outcome

• Cumulative vehicle battery production reached 30 million units (May 2026)
• +5 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Battery Association for Supply Chain (BASC)coreStrategic or Co-development Partner · 1 October 2024Joined the Battery Association for Supply Chain (battery supply chain initiative) to promote international competitiveness of Japan's battery supply chain. Participated in joint exhibition at CEATEC 2024 with BASC.
• Assist CorporationminorStrategic or Co-development Partner · 1 January 2023Participated in Assist Corporation's Solution Research Group focused on data-driven business. Toyota Battery team won the Grand Prize (最優秀賞) in the report category at the National Convention for research on 'Business-Contributing Data Utilization'.
• Toyotsu Material Co., Ltd.minorStrategic or Co-development Partner · 1 January 2023Partner in Toyota Battery's stretch film recycling initiative. Assisted in building a recycling line for converting stretch film waste into recycled poly bags. Provided network connections to identify recycling processing partners.
• Shinshu University and Shinshu Volta Co., Ltd.minorStrategic or Co-development Partner · 1 January 2022Three-party joint research agreement for developing high-performance batteries for mass production, including mountain drone applications. Shinshu Volta leverages Shinshu University's development base; Toyota Battery provides vehicle battery evaluation expertise.
• Corun PEVE Automotive Battery Co., Ltd. (CPAB)coreStrategic or Co-development Partner · 1 January 2020Joint venture in Changshu, Jiangsu Province, China for manufacturing NiMH battery modules for hybrid vehicles. Established to serve the growing Chinese HEV market. Production capacity expansion planned with second factory building.
• Kawase Industry Co., Ltd.minorStrategic or Co-development PartnerPartner in stretch film recycling project. Responsible for transporting compressed stretch film to recycling facilities and processing materials into pellets (成形).
• Uda Seika Kogyo Co., Ltd. and Sanyo Chemical Co., Ltd.minorStrategic or Co-development PartnerPartners in stretch film recycling. Uda Seika handles film formation from pellets into roll sheets and bag production. Sanyo Chemical performs recycling processing converting stretch film into pellets.
• TF-METAL Co., Ltd.minorStrategic or Co-development PartnerLocal company in Kosai City collaborating on fertilizer packaging using recycled poly bags made from Toyota Battery's stretch film recycling program. TF-METAL converts industrial waste into fertilizer approved by Ministry of Agriculture, Forestry and Fisheries.
• STATION AiminorStrategic or Co-development PartnerNagoya open innovation hub venue used for Toyota Battery DX exchange events, hosting external guest speakers and team building activities for digital transformation initiatives.

Scale indicators11 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• BYD: Vertically integrated Chinese EV and battery manufacturer with industry-leading LFP cell production. Competes with Toyota Battery on cost-competitive Li-ion cells and is a major player in the global automotive battery market.
• Samsung SDI: South Korean manufacturer of Li-ion battery cells and packs for automotive and ESS applications. Supplies global OEMs (BMW, Stellantis, Rivian) and competes in the same automotive battery value chain as Toyota Battery.
• LG Energy Solution: Major Korean battery manufacturer supplying Li-ion cells and packs to global automotive OEMs (GM, Hyundai, Honda, Toyota). A comparable Li-ion battery maker competing for premium automotive platform wins.
• SK On: South Korean battery manufacturer producing Li-ion cells and packs for major global OEMs (Hyundai, Kia, Ford, Volkswagen). A broad incumbent in the automotive battery space with comparable customer profile.
• CATL (Contemporary Amperex Technology): World's largest EV battery manufacturer, supplying Li-ion cells to global OEMs including Tesla, BMW, and increasingly Japanese automakers. Sets the cost and scale benchmark Toyota Battery must compete against for BEV supply.

Direct peers

• Blue Energy (Honda-GS Yuasa JV): Joint venture between Honda and GS Yuasa for Li-ion battery production for Honda vehicles. A direct peer in the Japanese OEM-embedded battery supply model, mirroring Toyota Battery's structure with Toyota.
• Panasonic Energy: Panasonic's automotive battery division and former co-parent of Toyota Battery (PEVE). Produces Li-ion cells and packs for Toyota and other global OEMs, directly competing in Toyota's battery sourcing slate.
• GS Yuasa: Japanese battery manufacturer producing automotive, motorcycle, and industrial batteries, including Li-ion modules for HEVs. A direct domestic peer with overlapping automotive battery product lines and Japanese OEM customer base.
• Prime Planet Energy & Solutions (PPES): Joint venture between Toyota Motor Corporation and Panasonic Holdings for prismatic lithium-ion automotive batteries. Directly competes with Toyota Battery for Toyota's HEV/PHEV/BEV battery supply, especially at higher energy density tiers.

Emerging players

• Envision AESC: Global Li-ion battery manufacturer with strong Japanese roots (formerly Nissan-AESC joint venture). Produces cells and packs for automotive and ESS, with comparable technology stack and Japanese OEM relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/toyotabatteryPR
• YouTubeyoutube.com/@toyota-battery_Official
• LinkedInlinkedin.com/company/toyota-battery-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Toyota Battery Co., Ltd