Toyota Motor to Invest $5.3 Billion in Japan, US for EV Battery Supply

Toyota Motor to Invest $5.3 Billion in Japan, US for EV Battery Supply
Toyota Motor Corporation's bZ Compact SUV pictured after a briefing on the company's strategies on battery EVs in Tokyo on Dec. 14, 2021. Kim Kyung-Hoon/Reuters
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Toyota Motor Corp. said on Wednesday it would invest up to 730 billion yen ($5.27 billion) in Japan and the United States to make batteries for fully electric vehicles.

When the additional facilities come on line between 2024 and 2026, Toyota’s battery production capacity in the two countries will have increased by 40 gigawatt-hours, the company said, giving no current figure for comparison.