Toyota, a Japanese carmaker, plans to develop EV batteries at its two engine and powertrain facilities. Better late than never, Toyota, which has long opposed the EV movement, suddenly appears to be making some measures to join the EV party.
Prime Planet Energy and Solutions:
According to the Toyota statement, the two facilities, a powertrain factory in Myochi and an engine plant in Shimoyama, have both situated near Toyota’s corporate headquarters and have in operation since the 1970s. Toyota plans to form a joint venture with Panasonic called Prime Planet Energy & Solutions that will lead to EV batteries.
Toyota also stated earlier this week that it would invest an additional $2.5 billion in its North Carolina factory as part of a $5.6 billion initiative to increase the manufacturing of EV batteries in both Japan and the US. The additional funds bring the total amount invested in the Liberty, North Carolina plant to $3.8 billion. These funds are in addition to Toyota’s initial $1.29 billion investment in US batteries, which disclosed last year.
Toyota President Statement:
according to Toyota President Akio Toyoda, the purpose of the electric transition is to protect jobs. At a recent JAMA gathering, Toyoda said, we need to build a society where everyone may have hope and confidence for the future as well as medium- to long-term solid jobs.
The senior vice president of unit manufacturing and engineering at Toyota Motor North America said This plant will play a crucial part in Toyota’s leadership toward a completely electric future and help us achieve our goal of carbon neutrality in our vehicles and worldwide operations by 2035.
When will EV battery production Begin:
In addition to making hybrid vehicles, the US battery manufacturing plant is anticipated to start producing batteries in 2025. The Japanese automaker still plans to sell 3.5 million electrified vehicles annually across the Toyota and Lexus brands by 2030, despite its “better late than never” uptake. However, due to unresolved technical issues, production of the company’s sole pure-electric car, the bZ4X EV, has so far been halt.
