Toyota Motor North America committed to invest approximately $3.4 billion in automotive battery development and production in the United States through 2030. The investment is part of the approximately $13.5 billion announced in September as Toyota Motor Corp.’s global strategy for developing and producing new battery-electric vehicle programs.
Part of the North American development will include further development and expansion of Toyota’s local supply chain and production knowledge concerning lithium-ion automotive batteries. Toyota Motor North America will establish a new company and build an automotive battery plant together with Toyota Tsusho in the U.S., to start production in 2025. This project includes an investment of approximately $1.29 billion through 2031 and forecast to create 1,750 new jobs.
The location of the new plant has not been announced.
The announcement came the same day that Toyota Motor Manufacturing, Alabama (TMMAL) marked the start of production for a new, hybrid electric-powered twin-turbo V6 engine and a gas-powered twin-turbo V6 engine. The plant in Huntsville, Ala., underwent a $288-million investment that added a 142-yard long assembly line, the longest Toyota engine line in North America. Both of the V6 engine models will be included in the 2022 Toyota Tundra.
"Toyota's commitment to electrification is about achieving long-term sustainability for the environment, American jobs and consumers," stated CEO Ted Ogawa of Toyota Motor North America. "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."
