Toyota to invest in N.A. battery production
Toyota Motor North America has recently announced it would invest $3.4 billion US ($4,200,112,480 CDN) during the next nine years in the United States to develop and localize automotive battery production. That would include batteries for electric vehicles made locally instead of in Japan.
This investment is part of a previously announced $13.5 billion global program by Toyota for battery development and production and it will include a $1.29 billion ($2,347,051,099 CDN) lithium-ion battery plant built in partnership with Toyota Tsusho, This facility will begin producing batteries by 2025.The location for the proposed plant was not detailed but Toyota people said it would create 1,750 new American jobs.