November 27, 2021

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TOYOTA’S U.S. MARKET INVESTS US$3.4 BILLION TO PRODUCE ELECTRIC CAR BATTERIES

Toyota Motor North America

Toyota Motor North America announced that it will establish a new company in the United States and jointly establish a car battery factory with Toyota. The goal is to start production in 2025.

 

According to reports, Toyota Motor announced on Monday that it will make a substantial investment in the US electric vehicle market, saying that by the end of 2030, it will invest US$3.4 billion in the field of electric vehicle batteries, which will be used for the development and production of electric vehicle batteries.

 

The investment is part of Toyota’s previous commitment to invest USD 13.5 billion in battery development and production plans worldwide.

Benjamin Turner

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