Toyota is investing $5.6 billion in Japan and the U.S. to boost production of batteries for electric vehicles, the Japanese automaker said Aug. 31.
Production is set to start between 2024 and 2026. In Japan, $3 billion will go into the Himeji Plant of Prime Planet Energy & Solutions Co., as well as in Toyota plants and property. In the U.S., about $2.5 billion will be invested in Toyota Battery Manufacturing in North Carolina, Toyota Motor Corp. said.
