Toyota to invest up to $5.6-B in Japan, US battery production

MANILA: The increased demand for automotive batteries for battery electric vehicles (BEVs) has led Toyota to decide to invest up to 730 billion yen (about US $5.6 billion) in Japan and the United States. Toyota intends to start producing automotive batteries between 2024 and 2026.

The goal of this investment is to give Toyota the flexibility to offer a variety of powertrains and provide as many options as possible in order to fulfill the needs of its varied consumers in all nations and areas. In a previous release, Toyota said it plans to launch 30 and sell 3.5 million BEVs by 2030.

With this investment, Toyota hopes to boost its total capacity for battery production in Japan and the US by up to 40 GWh. Toyota also plans to invest in the training of personnel involved in battery production and the transfer of Monozukuri manufacturing skills, as well as to further strengthen its competitiveness by utilizing the Toyota Production System and constructing production lines that are more effective than ever.

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 thinks that there are multiple ways to become carbon neutral. It also holds that different countries and regions have different strategies for protecting the livelihoods of their customers while lowering CO2 emissions as much and as rapidly as possible. With this in mind, Toyota will continue to make every effort to adapt to the needs of its varied consumers in all nations and areas by giving as many options as it can, including a variety of powertrains.

Catch the Japanese carmaker at the Philippine International Motor Show (PIMS) 2022 that will commence from September 15 to 18, 2022 at the World Trade Center, Pasay City. 

Photos from Toyota

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