Toyota: $ 3.4 billion for battery development and production in the United States

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Toyota takes a new step forward in its electrification strategy . The Japanese carmaker has announced that it intends to invest about 3.4 billion dollars in the development and production of batteries in the United States until 2030. At the same time as this announcement, the manufacturer has made it known that for the Opportunity will be also created a new company and that it will be; a new factory built dedicated to the production of accumulators together with Toyota Tsusho.

BATTERIES FOR HYBRID VEHICLES

The location chosen for the new factory is not; been communicated. More details, including the capacity; of production, will be revealed more & ugrave; come on. However, Toyota plans to initially use this facility to build the batteries that will be used inside its hybrid vehicles , according to reports.products for the American market. If nothing goes wrong, battery construction should start in 2025 . The Japanese brand announces that the new site will allow; to create about 1,750 new jobs.

This major investment is part of the $ 13.6 billion investment announced in early September to accelerate battery development. The automaker intends to work to make new batteries to significantly reduce their cost. By working on materials and cell design, Toyota expects to reduce the cost of accumulators by 30% .

Toyota North America CEO Ted Ogawa , has in fact declared that thanks to this investment it will be; possible to introduce more electrified vehicles convenient for US consumers. The news arrives at the same time as the one that Stellantis will formalize; a joint venture with LG to produce batteries directly in North America. In this second case there is also talk of accumulators dedicated to electric.

Toyota, on the other hand, as previously mentioned, will work; initially to produce batteries dedicated only to hybrid vehicles. The Japanese manufacturer, in fact, as known, continues to want to invest heavily in this technology. Ted Ogawa commented:

Toyota's commitment to electrification is about achieving sustainability. long-term for the American environment, jobs and consumers. This investment will help to introduce more electrified vehicles; convenient for US consumers, to significantly reduce carbon emissions and, above all, to create even more; American jobs linked to the future of mobility.

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