NEW YORK – Toyota Motor Corp. announced on Monday that it will invest approximately $ 3.4 billion (approximately € 2.934 billion) and will manufacture batteries for its cars in the United States by 2030, including electric vehicles. The investment is part of a total of $ 13.5 billion (€ 11.65 billion) that Toyota announced last month to invest in battery development and production. To enhance the localization of battery production, Toyota Motor North America also announced the formation of a new company to build a car battery plant in the United States in association with Toyota Suzuki.
With the intention of getting started Production by 2025 forecasts an investment of approximately $ 1.29 billion (approximately 11 1.113 billion) by 2031, creating 1,750 new jobs in the United States, including funds used to improve land and build new structures. This new company will enable Toyota to further develop and expand its production knowledge related to its local distribution chain and lithium ion batteries. The company will initially focus on the production of batteries for hybrid electric vehicles. In addition, the move will help promote the company’s goals of creating a positive net impact on the planet, including moving towards carbon neutrality in a sustainable and practical way. “This investment will help introduce electrified vehicles that are more accessible to U.S. consumers, significantly reduce carbon emissions and, above all, create U.S. jobs related to motion in the future,” explained Ted Okawa, CEO of Toyota Motor North America.