Toyota has announced that it will soon break ground on a new plant in the United States, which will build batteries for its electrified vehicles. Toyota plans to invest $3.4 billion in batteries through 2030.
As part of the plan, Toyota will establish a new company and build an automotive battery plant together with Toyota Tsusho in the US. Toyota plans to have the plant up and running in 2025.
“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.”
