Toyota to take a position $3.4 bn into automotive batteries manufacturing in US

The corporate didn’t specify additional particulars resembling a web site and manufacturing capability however mentioned it might set up a brand new firm for the US undertaking.

FILE: Toyota is a pioneer of hybrid automobiles and autos utilizing hydrogen gas and can also be stepping up its growth of battery-powered electrical automobiles. Image: 123rf.com

TOKYO, JAPAN – The world’s greatest carmaker Toyota unveiled plans on Monday to take a position $3.4 billion into automotive batteries in america and construct a manufacturing unit within the nation for his or her manufacturing.

The ten-year funding is a part of a undertaking introduced final month by the Japanese agency to pour 1.5 trillion yen ($13.1 billion) into the event and provide of batteries for electrical automobiles because it pushes to make its manufacturing carbon-neutral.

“Toyota’s dedication to electrification is about attaining long-term sustainability for the atmosphere, American jobs and customers,” mentioned Ted Ogawa, chief government officer at Toyota Motor North America.

The corporate didn’t specify additional particulars resembling a web site and manufacturing capability however mentioned it might set up a brand new firm for the US undertaking.

In June, Toyota mentioned it aimed to make its manufacturing carbon-neutral by 2035, changing the earlier goal date of 2050.

Toyota is a pioneer of hybrid automobiles and autos utilizing hydrogen gas and can also be stepping up its growth of battery-powered electrical automobiles.

Final yr Japan’s former prime minister Yoshihide Suga set a 2050 deadline for the world’s third-largest economic system to develop into carbon impartial, considerably firming up the nation’s climate-change commitments.

The nation has struggled to chop carbon emissions after shutting down reactors following the 2011 meltdown on the Fukushima nuclear energy plant.

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