Toyota to Invest $ 3.4 Billion by 2030 to Build Batteries for Electric Vehicles in the United States

Toyota Motor Corp. invests $ 3.4 billion in the production of batteries for electric vehicles in the United States. Toyota Motors said it will set up a new company and build a car battery plant with Toyota Tsusho in the United States. The plant will create about 1,750 new jobs in the United States. America. The project also includes investments of about $ 1.29 billion through 2031, including funds to be used for land development and facility construction. Toyota expects electric vehicle sales in the United States to account for 70% of its model range by 2030. Today this figure is 25%. To meet this demand, the company will expand its electric vehicle lineup, including hybrid (HEV), plug-in hybrid (PHEV), fuel cell (FCEV), and battery electric vehicle (BEV), from the current 55 models to around 70 models. models in 2025.