|
|
|
|
|
|
| Investment to bring new American plant, production, jobs with focus on carbon neutrality |
Toyota City, Japan, Oct 18, 2021 - (JCN Newswire) - Toyota announced today that it will invest approximately $3.4 billion (380 billion yen) in automotive batteries in the United States through 2030. Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of approx. $13.5 billion (1.5 trillion yen) set aside for investment in battery development and production announced last month by Toyota Motor Corporation.
To drive battery production localization, Toyota Motor North America also announced today that it will establish a new company and build an automotive battery plant together with Toyota Tsusho in the U.S. Aiming to start production in 2025, the project includes an investment of approximately $1.29 billion until 2031, which includes funds that will be used to develop land and build facilities, resulting in the creation of 1,750 new American jobs.
"Toyota's commitment to electrification is about achieving long-term sustainability for the environment, American jobs and consumers," said Ted Ogawa, Chief Executive Officer, Toyota Motor North America. "This investment will help usher in more affordable electrified vehicles for U.S. consumers, significantly reduce carbon emissions, and importantly, create even more American jobs tied to the future of mobility."
Part of the new company's activities will include helping Toyota to further develop and expand its local supply chain and production knowledge related to Lithium-ion automotive batteries. The venture will first focus on producing batteries for hybrid electric vehicles. Additionally, the move is expected to help further the company's goals to create a net positive impact on the planet and society, including advancing its efforts towards carbon neutrality in a sustainable and practical way. Further details of the project, including details on a site, production capacity, business structure, etc. will be shared at a future time.
Quick facts about Toyota's electrification efforts
- Cumulatively, Toyota has sold more than 18.7 million electrified vehicles, including over 4.5 million in the U.S.
- While electrified vehicles already account for nearly 25 percent of Toyota's U.S. sales volume, that number is expected to rise to nearly 70 percent by 2030.
- To meet the growing demand, Toyota continues to steadily expand its lineup of electrified vehicles, including hybrid (HEV), plug-in hybrid (PHEV), fuel cell (FCEV) and battery electric vehicles (BEV), from 55 models today to about 70 models by 2025.
- Of the 70 models, 15 will be BEVs, including seven Toyota bZ (Beyond Zero) models.
- By 2030, Toyota expects to sell two million zero emission vehicles (BEVs and FCEVs) globally, and in the U.S., the company expects to sell between 1.5 million to 1.8 million electrified vehicles, including ZEV models.
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive, EVs, Transportation
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| Toyota Motor Corporation |
| Oct 23, 2025 22:27 HKT/SGT |
|
Immersive Museum "THE MOVEUM YOKOHAMA by TOYOTA GROUP" to Open on December 20, 2025 |
| Oct 21, 2025 20:29 HKT/SGT |
|
New Land Cruiser "FJ" Makes World Premiere |
| Oct 9, 2025 19:40 HKT/SGT |
|
Sumitomo Metal Mining and Toyota Collaborate on Mass Production of Cathode Materials for All-Solid-State Batteries |
| Sept 30, 2025 18:34 HKT/SGT |
|
Toyota Launches Strategic Investment Subsidiary and Woven Capital Fund II to Accelerate Transformation into a Mobility Company |
| Sept 29, 2025 14:11 HKT/SGT |
|
Toyota Announces Sales, Production, and Export Results for August 2025 |
| Sept 29, 2025 13:42 HKT/SGT |
|
Isuzu and Toyota to Jointly Develop Next-Generation Fuel Cell Route Bus |
| Sept 26, 2025 18:18 HKT/SGT |
|
Toyota Woven City Officially Launches as a Test Course for the Future of Mobility |
| Sept 18, 2025 23:48 HKT/SGT |
|
Upgraded GR Corolla Set for Japan Launch |
| Sept 15, 2025 14:33 HKT/SGT |
|
Toyota Launches Next-Generation New Mobility e-Palette |
| Sept 12, 2025 13:40 HKT/SGT |
|
GR Yaris "Aero performance package" Set for Japan Launch |
| More news >> |
 |
|
|
|
