New Kia Concept EV5 previews all-electric SUV for Chinese market

More

The Volkswagen ID. 2all previews sub-25,000 euros electric car

More

The Kia EV9 all-electric SUV revealed

More

2023 Lexus RZ 450e goes on sale with a starting price from $59,650

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

Toyota to Invest Up to 5.6 billion in Japan/U.S. Battery Production

Toyota Motor Corporation has decided to invest up to 730 billion yen (approximately $5.6 billion) in Japan and the United States toward supplying automotive batteries for battery electric vehicles, for which demand is growing, and aims to begin battery production between 2024 and 2026.

This investment is aimed at enabling Toyota to flexibly meet the needs of its various customers in all countries and regions by offering multiple powertrains and providing as many options as possible.

With this investment, Toyota intends to increase its combined battery production capacity in Japan and the United States by up to 40 GWh. By utilizing the Toyota Production System and building production lines that are more efficient than ever, Toyota also intends to further strengthen its competitiveness and invest in the training of personnel engaged in battery production and the passing down of monozukuri manufacturing skills.

In Japan, a total of approximately 400 billion yen will be newly invested in the Himeji Plant of Prime Planet Energy & Solutions Co., Ltd. (PPES) and in Toyota plants and property, while in the United States, approximately 325 billion yen (approximately 2.5 billion dollars) will be newly invested in Toyota Battery Manufacturing, North Carolina (TBMNC; owned 90% by Toyota Motor North America, Inc. and 10% by Toyota Tsusho Corporation) toward increasing automotive battery production.

Toyota intends to continue its efforts to build a supply system that can steadily meet the growing demand for BEVs in various regions, including the supply of automotive batteries from its partners.

Toyota believes that there is more than one option for achieving carbon neutrality. It also believes that the means of reducing CO2 emissions as much as possible and as quickly as possible while protecting the livelihoods of its customers vary greatly depending on the country and region. With such in mind, Toyota will continue to make every effort to flexibly meet the needs of its various customers in all countries and regions by offering multiple powertrains and providing as many options as possible.

Aug 31, 2022Blagojce Krivevski
Polestar 6 LA Concept edition build slots sell out in one weekBMW Starts Production of Fuel-Cell Systems for its iX5 Hydrogen SUV
You Might Also Like
 
Toyota Chose Ontario to Build RAV4 Electric
 
Toyota launches new Prius Plug-in Hybrid sales in Japan
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

August 31, 2022 Electric Car Newstoyota
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
Recent News
New Kia Concept EV5 previews all-electric SUV for Chinese market
March 20, 2023
Ford Mustang Mach-E And Tesla Model Y Achieve Good Ratings In New Test By IIHS
March 20, 2023
LiveWire ONE Electric Motorcycle Launches in Europe
March 20, 2023
PowerCo breaks ground on battery cell gigafactory in Valencia
March 20, 2023
Repsol and SEUR sign a strategic agreement to advance electric mobility
March 19, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
New Kia Concept EV5 previews all-electric SUV for Chinese market
March 20, 2023
Ford Mustang Mach-E And Tesla Model Y Achieve Good Ratings In New Test By IIHS
March 20, 2023
LiveWire ONE Electric Motorcycle Launches in Europe
March 20, 2023
Get in touch

Email: [email protected]

Get new stories by email:
Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • rss
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.