TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
Home
Press release
Aug 31, 2022 15:10 JST
Source:
Toyota Motor Corporation
Toyota to Invest Up to 730 Billion Yen in Japan/U.S. Battery Production
Up to 40 GWh Production Capacity Increase to Meet Growing Demand for BEVs
TOKYO, Aug 31, 2022 - (JCN Newswire) - Toyota Motor Corporation (Toyota) has decided to invest up to 730 billion yen (approximately $5.6 billion) in Japan and the United States toward supplying automotive batteries for battery electric vehicles (BEVs), for which demand is growing, and aims to begin battery production between 2024 and 2026. This investment is aimed at enabling Toyota to flexibly meet the needs of its various customers in all countries and regions by offering multiple powertrains and providing as many options as possible.
With this investment, Toyota intends to increase its combined battery production capacity in Japan and the United States by up to 40 GWh. By utilizing the Toyota Production System and building production lines that are more efficient than ever, Toyota also intends to further strengthen its competitiveness and invest in the training of personnel engaged in battery production and the passing down of monozukuri manufacturing skills.
In Japan, a total of approximately 400 billion yen will be newly invested in the Himeji Plant of Prime Planet Energy & Solutions Co., Ltd. (PPES) and in Toyota plants and property, while in the United States, approximately 325 billion yen (approximately 2.5 billion dollars) will be newly invested in Toyota Battery Manufacturing, North Carolina (TBMNC; owned 90% by Toyota Motor North America, Inc. and 10% by Toyota Tsusho Corporation) toward increasing automotive battery production.
Toyota intends to continue its efforts to build a supply system that can steadily meet the growing demand for BEVs in various regions, including the supply of automotive batteries from its partners.
Toyota believes that there is more than one option for achieving carbon neutrality. It also believes that the means of reducing CO2 emissions as much as possible and as quickly as possible while protecting the livelihoods of its customers vary greatly depending on the country and region. With such in mind, Toyota will continue to make every effort to flexibly meet the needs of its various customers in all countries and regions by offering multiple powertrains and providing as many options as possible.
Source: Toyota Motor Corporation
Sectors: Automotive
Copyright ©2022 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Related Press Release
Startups rapidly emerging from Central Japan - local entrepreneurs explain why
December 02 2022 23:00 JST
TOYOTA GAZOO Racing Launches GR Corolla Sales Efforts with Lotteries in Japan
December 02 2022 12:48 JST
TOYOTA GAZOO Racing Presents 2023 Race Team Setups
November 25 2022 17:07 JST
TOYOTA GAZOO Racing Presents 2023 Rally Team Setups
November 18 2022 12:12 JST
A Nod to the Near Future: Toyota bZ Compact SUV Concept Revealed in U.S.
November 17 2022 10:52 JST
World Premiere of All-New Prius in Japan
November 16 2022 12:59 JST
Late heartbreak for TOYOTA GAZOO Racing in dramatic season finale
November 14 2022 14:53 JST
TOYOTA GAZOO Racing takes historic Hypercar title double
November 14 2022 11:57 JST
Titles on the line for TOYOTA GAZOO Racing
November 04 2022 17:20 JST
Toyota: GR Models to be Exhibited at the 2022 Specialty Equipment Market Association (SEMA) Show
November 02 2022 13:10 JST
More Press release >>
Latest Press Release
Olympus to Join Government Project to Verify Dissemination of Endoscopic AI Diagnosis in Vietnam
Dec 06, 2022 11:00 JST
Olympus to Join Government Project to Verify Dissemination of Endoscopic AI Diagnosis in Vietnam
Dec 06, 2022 11:00 JST
DOCOMO to Introduce Latest R&D and Technologies During "docomo Open House'23" Online Event
Dec 05, 2022 16:52 JST
Mitsubishi Power Receives 55MW Geothermal Power Plant Order from Pertamina
Dec 05, 2022 15:26 JST
Release of Mazda Integrated Report 2022
Dec 05, 2022 12:30 JST
Olympus Announces Launch of Olympus Asia Pacific Innovation Program
Dec 05, 2022 09:00 JST
Olympus Announces Launch of Olympus Asia Pacific Innovation Program
Dec 05, 2022 09:00 JST
Startups rapidly emerging from Central Japan - local entrepreneurs explain why
Dec 03, 2022 00:00 JST
Startups rapidly emerging from Central Japan - local entrepreneurs explain why
Dec 03, 2022 00:00 JST
Blockpass releases crypto's first Unhosted Wallet KYC
Dec 02, 2022 14:00 JST
TOYOTA GAZOO Racing Launches GR Corolla Sales Efforts with Lotteries in Japan
Dec 02, 2022 13:48 JST
DENSO Receives IEEE Corporate Innovation Award for Developing and Spreading Use of QR Code
Dec 02, 2022 11:29 JST
NEC and SINAI Technologies Collaborate to Create Pathways to Decarbonization
Dec 02, 2022 09:26 JST
Eisai to Present Preclinical and Clinical Research on Eribulin at the 2022 San Antonio Breast Cancer Symposium
Dec 01, 2022 20:09 JST
Honda Unveils Next-generation Technologies of Honda SENSING 360 and Honda SENSING Elite
Dec 01, 2022 19:01 JST
MHI Publishes Integrated Report "MHI Report 2022"
Nov 30, 2022 18:07 JST
Mitsubishi Heavy Industries Engineering to be Integrated into MHI
Nov 30, 2022 16:02 JST
NEC Orchestrating Future Fund, an Ecosystem-type CVC Fund, Completes Final Close for US$140 Million
Nov 30, 2022 15:15 JST
Mitsubishi Power to Upgrade Two Gas Turbines at Tuas Power to Achieve 16.9 kilo-tonnes of Carbon Emissions Reduction Annually
Nov 30, 2022 14:55 JST
ExxonMobil, Mitsubishi Heavy Industries Form Carbon Capture Technology Alliance
Nov 30, 2022 11:56 JST
More Latest Release >>