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Toyota plans US-made batteries by 2025: Will more ambitious EV targets follow?
Toyota on Monday announced plans to invest $3.4 billion in U.S.-built batteries through 2030.
It’s part of a $13.5 billion global battery development investment made in September by Toyota Motor Corporation that included a push for reducing battery cost by 50% and improving efficiency by 30% over current EV tech.
Of that, Toyota plans to spend $1.29 billion by 2031 to build factories that will create 1,750 jobs. Included are a battery plant (and company) together with Toyota Tsusho, an associated supplier, with aims for that venture to start production in 2025.
“This investment will help usher in more affordable electrified vehicles for U.S. consumers, significantly reduce carbon emissions, and importantly, create even more American jobs tied to the future of mobility,” said Toyota Motor North America CEO Ted Ogawa.
Read the whole news on greencarreports.com