Toyota to invest $5.6B in EV battery production

Toyota has announced that, as part of its electrification plans for the coming years, it will invest up to 730 billion yen (about $5.6 billion ) to make batteries in the United States and Japan. Production will initially start between 2024 and 2026 and will allow the Japanese firm to meet the growing demand for electric cars in these markets.

With this investment, Toyota will increase its cell production capacity in the United States and Japan by up to 40 GWh. The company will use its manufacturing system, the TPS (Toyota Production System), to build the most efficient lines possible in its battery plants.

In Japan, Toyota will invest in Prime Planet Energy & Solutions’ Himeji factory and its factories, while in the United States, where it will have a budget of approximately $2.5 billion, efforts will focus on Toyota Battery Manufacturing facilities. North Carolina.

Toyota will invest in the training of staff dedicated to battery production and in the transmission of “monozukuri” manufacturing skills (a practice that seeks to optimize value chain processes in the production environment), which should strengthen the competitiveness of the Japanese company in this sector.

Toyota wants to sell 3.5 million electric cars by 2030

Toyota and its premium subsidiary Lexus aim to sell around 3.5 million battery-powered electric cars by 2030, a goal that will be achieved thanks to the deployment of a significant product offering: by the end of the decade, both brands will have thirty BEV ( Battery Electric Vehicle ) models worldwide; In addition, Lexus will only sell vehicles of this type in China, the United States, and Europe from 2035.

Toyota BZ4X

Although Toyota defends a multi-technological approach to achieve carbon neutrality (synthetic fuels, hydrogen…), its commitment to the electric car will be supported by a significant investment in solid electrolyte batteries, a technology in which Toyota aspires to be a pioneer.

Toyota currently sells only one electric car on the European market, the bZ4X; however, in the short term, its offer is expected to be expanded through the launch of new models based on the E3 platforms (industrialized in Europe, for multi-energy vehicles) and e-TNGA (industrialized in China and Japan, for dedicated electric vehicles).

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