ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
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 ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Release
DOCOMO and NTT Com Jointly Demonstrate Practicality of DOCOMO's New Multi-platform Cloud-rendering Technology
Jul 26, 2024 17:05 JST
TANAKA Precious Metals Provided Award Items and Ceremony Souvenirs for the International Friendly Matches of the Japan Men's National Blind Football Team at the "DAICEL Blind Football Japan Cup 2024 in Osaka" on July 7
Jul 26, 2024 03:00 JST
Eisai and EcoNaviSta Enter into Business Alliance Agreement Aimed at Building a Dementia Ecosystem and Commence Collaboration
Jul 25, 2024 10:30 JST
Hitachi Awarded Largest Contract in Singapore to Supply 450 Lifts at HDB Blocks
Jul 24, 2024 16:27 JST
Hitachi to Announce Capital Reorganization of Air Conditioning Joint Venture
Jul 24, 2024 15:02 JST
Eisai to Present Dual-Acting Lecanemab Three-Year Efficacy and Safety Data and Discuss Long-Term Outcomes of Continued Treatment at the Alzheimer's Association International Conference 2024
Jul 23, 2024 20:23 JST
Toyota Material Handling Japan and Fujitsu launch Japan's first service for evaluating forklift safety in the cloud using AI
Jul 23, 2024 11:26 JST
AEON and CJPT working to resolve logistics industry issues and achieve carbon neutrality at AEON Fukuoka XD
Jul 22, 2024 13:52 JST
Rovanpera and Ogier score another TOYOTA GAZOO Racing one-two
Jul 22, 2024 12:30 JST
Team HRC with Japan Post Wins 45th Suzuka 8 Hours Endurance Road Race
Jul 22, 2024 11:33 JST
Honda to Hold its Official e-Motorsports Event, "Honda Racing eMS 2024"
Jul 19, 2024 20:04 JST
MHI America Acquires Three Utility-Scale Solar Power Projects in Pennsylvania, Advancing the Company's Energy Transition Strategy
Jul 19, 2024 19:04 JST
JCB and Worldline unveil a new whitepaper offering European merchants invaluable insights into facilitating seamless payments for international consumers
Jul 19, 2024 12:00 JST
Fujitsu Chosen to Help Solving Social Issues Caused by Fake News
Jul 19, 2024 11:30 JST
Champion REIT holds first 'ESG Week'
Jul 18, 2024 20:14 JST
Lexus LBX Adds a New High Performance Variant, the LBX "MORIZO RR"
Jul 18, 2024 17:25 JST
VitalLife and Bumrungrad International Hospital in Thailand Launch NEC's FonesVisuas Test: First Major Deployment Outside Japan, Revolutionizing Disease Risk Prediction
Jul 18, 2024 15:34 JST
Fujitsu publishes CHRO Roundtable Report 2024, summarizing the challenges and implications of the implementation of data-driven human capital management
Jul 18, 2024 10:44 JST
Fujitsu-sponsored professional golfer Ayaka Furue victorious in the Amundi Evian Championship
Jul 16, 2024 23:26 JST
Neste and Mitsubishi Corporation agree on strategic partnership to develop supply chains for renewable chemicals and plastics
Jul 16, 2024 18:36 JST
More Latest Release >>
Related Release
Toyota Material Handling Japan and Fujitsu launch Japan's first service for evaluating forklift safety in the cloud using AI
7/23/2024 11:26:00 AM JST
AEON and CJPT working to resolve logistics industry issues and achieve carbon neutrality at AEON Fukuoka XD
7/22/2024 1:52:00 PM JST
Rovanpera and Ogier score another TOYOTA GAZOO Racing one-two
7/22/2024 12:30:00 PM JST
Lexus LBX Adds a New High Performance Variant, the LBX "MORIZO RR"
7/18/2024 5:25:00 PM JST
TOYOTA GAZOO Racing faces a new challenge with full strength
7/12/2024 7:15:00 PM JST
TGR Announces Upgraded GR86 and Limited Special-edition Model
7/12/2024 2:48:00 PM JST
TOYOTA GAZOO Racing back in Brazil
7/5/2024 5:55:00 PM JST
Supersub Rovanpera claims remarkable win for TOYOTA GAZOO Racing
7/1/2024 11:14:00 AM JST
Boosting Growth Investment to Power Mobility Company Transformation Toyota-AISIN Capital Ties Revised
6/27/2024 4:23:00 PM JST
Toyota: Sales, Production, and Export Results for May 2024
6/27/2024 2:16:00 PM JST
More Press release >>