Toyota will build a US battery plant as part of a $3.4 billion investment
The financial investment is an acknowledgment by Toyota that it needs to diversify its electrification method if nothing else. More so than nearly any other automaker, it has invested substantially into fuel cell technology, with not a lot to reveal for its efforts, at least not in the United States. Outside of California, you can’t purchase its Mirai fuel-cell sedan. However as part of its Beyond Zero push, Toyota hopes to change that, with it currently preparing to provide 70 different electrical models, including 15 battery electrical vehicles, by 2025.
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Toyota said it would share details on the job, including where it plans to build the plant, in the future. The center will at first focus on making batteries for hybrid electric vehicles, with production expected to begin sometime in 2025. Toyota expects to create about 1,750 tasks through the job.
Toyota prepares to spend approximately $3.4 billion to scale its battery production abilities in the United States, the automaker revealed on Monday. As part of the investment, Toyota states it will develop a brand-new business that will, with aid from its Toyota Tsusho subsidiary, build a battery manufacturing plant somewhere in the United States. The business anticipates to invest $1.29 billion into the facility by the end of 2031.