Dow Jones Newswires
Toyota Motor to invest up to $5.26 billion in Japan and U.S. battery production
Last Updated: Aug. 31, 2022 at 3:15 a.m. ETFirst Published: Aug. 31, 2022 at 2:49 a.m. ETToyota Motor Corp. plans to invest up to 730 billion yen ($5.26 billion) in Japan and the U.S. as it works toward supplying automotive batteries for electric vehicles.
The Japanese auto giant 7203, -0.17% wants to start battery production between 2024 and 2026.
“With this investment, Toyota intends to increase its combined battery production capacity in Japan and the United States by up to 40 GWh,” the company said in a statement on Wednesday.
Toyota said around Y400 billion will be invested in the Himeji Plant of Prime Planet Energy & Solutions Co., Ltd. as well as in Toyota plants and property in Japan
Dow Jones NewswiresToyota Motor to invest up to $5.26 billion in...
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