Toyota is putting a lot of money on the table: 730 billion yen (about $5.6 billion). 400 billion yen will be invested in the Prime Planet Energy & Solutions Co. (PBES) plant in Himeji, Japan. The remaining approximately $2.5 billion will be invested in a Toyota battery manufacturing plant in North Carolina, USA. The investment will be used to increase battery production capacity to 40 GWh across Japan and the US by 2024-2026.
This includes both the construction of new efficient production lines and the training of employees. In addition, Toyota wants to meet the new requirements “by offering as many powertrains and as many options as possible”. To that end, manufacturers must create the environment to meet demand and deliver electric vehicles to the world seamlessly. Toyota is also considering supplying EV batteries to its partners.
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