Toyota to spend $3.4 billion on U.S. automotive batteries through 2030

by SpeedLux
Toyota Yaris GRMN

Toyota Motor’s North American unit said Monday it will invest about $3.4 billion (380 billion yen) on U.S. automotive battery development and production in the United States through 2030.

The automaker said it plans to create a new company and build a new U.S. automotive battery plant along with Toyota Tsusho, the automaker’s metals trading arm and a unit of the Toyota Group.

The new plant, which consists of a planned $1.29 billion investment through 2031, intends to begin production in 2025 and is expected to create 1,750 new U.S. jobs.

Toyota North America CEO Ted Ogawa said the investment will help usher in more affordable electrified vehicles for consumers in the US.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.


©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More