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Toyota To Build A $3.4 Billion Battery Plant For Electric Vehicles
With many auto manufacturers switching towards an EV future, battery production is very important and Toyota is ready to invest in the project by setting up a $3.4b plant in the US.
The location and opening date of the facility has yet to be detailed, but the factory is slated to come online in 2025. And Toyota promises the factory will create around 1,750 jobs here in the U.S. Toyota moved its headquarters from California to Texas several years ago, and while Toyota has roughly a dozen factories in the U.S., it might consider its “home state” for the factory. That said, it produces hybrid models at several plants in the Midwest and South, and the automaker is constructing a brand new factory in Alabama for its Mazda joint venture. Any of those sites might be well-suited to a battery factory.
In a statement, Toyota Motor North America’s Chief Executive Officer, Ted Ogawa said “Toyota’s commitment to electrification is about achieving long-term sustainability for the environment, American jobs and consumers,”. He further added, “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”.
As of 2021, Toyota offers only hybrid vehicles in the US market, though the production version of the Toyota bZ4X concept crossover is expected to debut by the end of the year. By 2025, Toyota hopes to have seven additional all-electric bZ vehicles in its portfolio.
