Toyota Motor Corporation lines up USD5.6 billion to produce EV batteries in Japan, US
Toyota plans to increase its combined battery production capacity in Japan and the US by up to 40GWh and aims to begin EV battery production during 2024–26
Japan’s largest carmaker Toyota Motor Corporation has lined up an investment of JPY730 billion (about USD5.6 billion) for producing electric vehicle (EV) batteries in Japan and the US, the company said on 31 August 2022. The announcement comes at a time when Toyota is looking to put together its battery supplies to support its midterm EV production plan in its home market as well as in the US.
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