According to foreign media reports, Toyota North America said on October 18 that it plans to invest 3.4 billion US dollars in the United States over the next nine years to promote the development of electric vehicle batteries in the United States, including the production of electric vehicle batteries in the United States.
Toyota previously announced a global battery development and production plan and plans to invest $13.5 billion. Toyota's investment in the United States is part of the plan.
Toyota's $3.4 billion investment in the US includes the construction of a $1.29 billion lithium-ion battery plant with Toyota Tencent (Toyota Tsusho), which will start producing batteries in 2025. The batteries will be installed on Toyota's electric and hybrid vehicles in the United States.
A spokesman confirmed that the plant would first focus on hybrid battery production, but would then start producing batteries for US-made electric cars.
Toyota said the proposed plant would create 1750 jobs in the United States. However, Toyota did not disclose details of the location and operation of the plant. Toyota also did not say where it would produce electric cars for sale in North America.
"Toyota's electrification investment in the United States is aimed at achieving sustainable development in the future," Toyota North American CEO Ted Ogawa said in a statement. "this investment will help provide American consumers with lower-cost electric vehicles, reduce carbon emissions and, more importantly, create more jobs related to future travel in the United States."
Toyota's statement echoes Volkswagen's previous strategy for localizing the manufacture of electric vehicles, as well as the battery strategies of Ford and GM.
This year, Toyota executives in North America said the company plans to integrate the production of electric cars in Japan, including those to be shipped to North America for sale.
In April, Toyota launched its compact EV crossover concept car, the bZ4X, and said it would be available in the United States in 2022. A pure electric version of Lexus's LF-Z is also under development and is expected to be sold at dealers by the end of 2022. In addition, Toyota will produce a cross-border pure electric SUV Solterra, for its partner Subaru, which will also be available in the second half of 2022.
Toyota has focused on its decarbonization strategy and plans to expand its hybrid and plug-in hybrid vehicles by 2025. In addition, Toyota said it plans to produce 15 electric vehicles worldwide, including seven bZ models.
