Toyota says it will ramp up the production of batteries for electric vehicles in Japan and the United States through an investment of up to $5.3B
Toyota says it aims to begin producing cells for battery-powered vehicles in the US and Japan between 2024 and 2026.
Part of the cash is included in a huge two-trillion budget for the development and production of auto batteries that was announced by the Japanese giant in December, a spokesperson told AFP news agency on Wednesday. Toyota is the world's top-selling carmaker, and has championed hybrid motors and pioneered hydrogen as a fuel of the future.
"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.Toyota said it aims to begin producing cells for battery-powered vehicles in the two countries between 2024 and 2026.
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