Tuesday, October 4, 2022
News Toyota to Invest in North American Battery Production

Toyota to Invest in North American Battery Production

Toyota will create jobs in the US

Toyota may be late to the purely electric movement, but the Japanese giant is currently working on a short- and medium-term strategy in this area. Indeed, Toyota has already indicated its intention to add 15 electric models to its global fleet of vehicles by 2025, and earlier this week in October, Toyota’s U.S. wing revealed more details about its North American strategy.

The automaker will invest US$3.4 billion to develop and build a battery production facility in the United States. This investment over the next nine years will result in the creation of a new company and the construction of this battery production plant with partner Toyota Thusho, an investment of $1.29 billion, until 2031. The cash infusion will also create as many as 1,750 jobs in the United States.

“Toyota’s commitment to electrification is aimed at achieving long-term sustainability for the environment, American jobs and consumers,” said Ted Ogawa, general manager of Toyota North America. “This investment will help usher in more affordable electrified vehicles for U.S. consumers, significantly reduce carbon emissions and, most importantly, create even more American jobs related to the future of mobility.”

As of this writing, the automaker has not indicated where this new battery production facility would be located, the largest Japanese player currently with nine production facilities on both the vehicle assembly and parts production sides.

In addition to all hybrid models and the few plug-in hybrids, Toyota also has an interest in fuel cell (hydrogen-powered) technology. However, starting next year, Toyota will introduce to the market its pure electric crossover developed jointly with its partner Subaru, the Toyota bZ4X. This vehicle will be the first in the new electric lineup, simply called bZ.

Trending Now

Rivian is on Track to Meet its 2022 Production Goals

The automaker’s production increased 67% during the last quarter. Rivian wants to build 25,000 vehicles in 2022. The company has now produced 14,317...

Faraday Future Raised $100 Million Ahead of the Launch of the FF91

The company reported having financial problems earlier this year. About $100 million has now been raised out of the required $325 million. The...

The 2023 Kia Niro Hybrid will Start at $26,490 in the US

Three trim levels will be available Sales will begin this month in the United States The plug-in hybrid and the electric versions will...

BMW Unveils the XM, the Most Powerful Vehicle in its History

The following vehicle leaves the factory with a plug-in hybrid powertrain, but let's just say that its primary mission is to deliver a good...

UK-Based EV Startup Arrival Looking at US Expansion

It will use micro-factories to build electric vans. Arrival already has an order for 10,000 vans from UPS. Arrival is a small UK-based vehicle...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.