Toyota announces US hybrid battery production

Toyota announced today that it will invest US $ 3.4 billion (¥ 380 billion) in US automotive batteries by the end of 2030.

The investment is for the development and localization of automotive batteries, including battery-powered electric vehicles, totaling $ 13.5 billion worldwide secured for the investment in battery development and production announced last month. It is a part of (1.5 trillion yen).

Toyota Motor North America will establish a new company jointly with Toyota Tsusho of the United States to build an automobile battery plant. The project is targeted for production in 2025 and includes an investment of $ 1.29 billion by 2031. This includes funding used for land development and facility construction, creating 1,750 new jobs.

“Toyota’s commitment to electrification is to achieve long-term sustainability for the environment, American employment and consumers,” said Ted Ogawa, CEO of Toyota Motor North America. “This investment pioneered more affordable electric vehicles for US consumers, significantly reduced carbon dioxide emissions, and, importantly, more US jobs that led to the future of mobility. Helps create. ”

As part of the new company’s activities, it will include helping Toyota further develop and expand its local supply chain and production knowledge related to lithium-ion automotive batteries. Ventures will first focus on the production of batteries for hybrid electric vehicles.

Details of the project will be announced at a later date.

Toyota announces US hybrid battery production

Source link Toyota announces US hybrid battery production

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