Toyota’s approach to electrification is different.Originally I was betting quite heavily hydrogen, Actively lobbying for the development of battery-powered electric vehicles. Reported in August.. It seems to have changed in a very big way.
Toyota announced today that it will invest $ 3.4 billion to manufacture automotive batteries in the United States over the next decade. The press release specifically emphasizes that “the investment is to develop and localize the production of automotive batteries, including battery-powered electric vehicles.” Undoubtedly, this is about Toyota finally manufacturing EVs in the United States. NS highlight.
The first business will reportedly focus on investing in a new company specializing in battery production and building a brand new battery plant in the United States, with production expected to begin in 2025. An investment of $ 1.29 billion is expected over the next 10 years. Create years and 1,750 jobs.
Oddly, Toyota’s competitors Build a big factory Location TBD, a new plant, will initially manufacture batteries for hybrid vehicles, especially for EV platform development. Most of the cars Toyota sells in the US have hybrid options, but even while it’s finally committed to battery-electric cars, it still feels a bit hedging.
This US-specific investment seems serious about this, as it is part of Toyota’s global spending of $ 13.5 billion on battery development and production. Battery manufacturing technology is a major part of Toyota’s future focus, looking at the lithium-ion supply chain and how to optimally localize it.Oddly, Toyota is one of the car makers Currently pee Not being able to receive the EV discount built by the union.
Toyota North America CEO Ted Ogawa said in a press release that the investment would make Toyota’s electric vehicles cheaper and more affordable in the United States.
“Toyota’s commitment to electrification is to enable the environment, US employment, and long-term consumer sustainability. This investment pioneers more affordable electrified vehicles for US consumers and emits carbon. Significantly reduced volumes and, more importantly, more American jobs are tied to the future of mobility. “
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https://www.thedrive.com/news/42776/toyota-charges-forward-with-3-4-billion-battery-plant-in-the-us Toyota positively charges at US $ 3.4 billion battery plant