Toyota to invest $4.5 billion for battery development in the U.S.A

Toyota has announced that it will invest approximately $4.5 billion for the development and production of automotive batteries in the U.S.A through 2030.

To drive battery production localisation, Toyota Motor North America also announced that it will establish a new company and build an automotive battery plant together with Toyota Tsusho in the U.S.A. Aiming to start production in 2025, the project includes an investment of approximately $1.7 billion until 2031, which includes funds that will be used to develop land and build facilities, resulting in the creation of 1,750 new jobs.

Part of the new company's activities will include helping Toyota to further develop and expand its local supply chain and production knowledge related to lithium-ion automotive batteries. The venture will first focus on producing batteries for hybrid electric vehicles.

Further details of the project, including details on a site, production capacity, business structure, etc. will be shared by Toyota a future time.