Toyota to invest ¥730-B in Japan-US battery production

Toyota revealed that it will invest up to ¥730 billion (approximately P295 billion) in Japan and in the United States to supply electric vehicle batteries.

With growing demands for electric vehicle (EV) batteries, Toyota is eyeing to start the production between 2024 and 2026.

The aim of the investment, the Aichi-based automotive brand explained, is to allow the company to flexibly meet the needs of various customers in all countries and regions by offering multiple powertrains and providing as many options as possible.

As of the moment, Toyota’s powertrain roster includes traditional internal combustion engines (ICE) like the one equipped in the locally offered Vios, hybrid powertrains such as the one found in the Philippine-spec Prius, and all-electric systems including the one fitted in US model bZ4X.

Toyota adds that through the latest move, the automaker aims to increase its combined battery production capacity in Japan and the United States by up to 40 gigawatt-hours (GWh). The company will utilize the Toyota Production System and build production lines that are more efficient than ever.

Furthermore, Toyota shares that it also intends to strengthen its competitiveness and invest in the training of personnel engaged in battery production and the passing down of monozukuri manufacturing skills.

In detail, Toyota will invest approximately ¥400 billion (P162 billion) in the Himeji Plant of Prime Planet Energy and Solutions Co., Ltd. (PPES) while around ¥325 billion (P131 billion) will be invested in Toyota Battery Manufacturing, North Carolina (TBMNC) in the US.

“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,” Toyota said in a press release.

Photos from Toyota

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