Toyota sets aside $3.4 billion for American electric vehicle batteries

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Enlarge / Toyota’s present lineup of electrified automobiles will likely be joined by a battery-electric crossover in 2022.

Toyota


In 2025, Toyota will open a brand new North American battery manufacturing plant as a part of the automaker’s electrification strategy. The firm made the announcement on Monday morning, stating that it’ll spend $3.4 billion (¥ 380 billion) on high-voltage batteries for electric automobiles within the US between now and 2030.

“This investment will help usher in more affordable electrified vehicles for US consumers, significantly reduce carbon emissions, and importantly, create even more American jobs tied to the future of mobility,” stated Ted Ogawa, CEO of Toyota Motor North America.

Toyota was an early chief in electrified automobiles and has bought greater than 18.7 million hybrids because it launched the primary Prius in 1997. But it has been overtaken by different OEMs within the shift towards emission-free battery-electric automobiles and can solely launch its first trendy BEV—a RAV4-sized crossover referred to as the bZ4x—in mid-2022.

As with in the present day’s similar announcement by Stellantis, we’ll have to attend a while to study precisely the place Toyota plans to construct this new battery manufacturing unit. Toyota is not sharing the anticipated output of the battery plant but, but it surely does say the three way partnership with Toyota Tsusho will price $1.3 billion between now and 2031 and that it’ll create 1,750 new jobs.



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