Major automakers are now ramping up construction of traction battery plants in preparation for the anticipated rapid transition to electric vehicle production. The Japanese company Toyota is no exception – it is also striving for large-scale electrification of the entire model line.
So, it became known that Toyota will invest about $ 3.4 billion in the development of car batteries by 2030. The construction of a new plant for their production in the United States will cost $ 1.29 billion as part of planned investments until 2031.
The launch of the enterprise is scheduled for 2025, it will employ 1,750 people. At the same time, the automaker did not say where the new plant will be located.
Toyota North America CEO Ted Ogawa said the investment will make electric vehicles more affordable for consumers.
We also advise you to watch a detailed test drive of the Toyota Yaris Hybrid 2021 from the FineAuto team: