Toyota has announced a 730 billion yen ($5.6 billion) investment in Japan and the United States that will go toward supplying automotive batteries for BEVs. The OEM aims to begin battery production between 2024 and 2026, utilizing the global Toyota Production System to do so. The core aim of the investment is to flexibly satisfy global customer demands by offering multiple powertrains and providing a number of options.
Through the investment, Toyota expects to increase its combined battery production capacity in both countries by up to 40 GWh. Likewise, in utilizing the Toyota Production System and building new production lines, it also intends to invest in battery production training.
In Japan, approximately 400 billion yen ($2.8 billion) will be invested into the OEM’s Plant of Prime Planet Energy & Solutions in Himeji as well as its other plants and property in the country. In the U.S, the OEM’s North Carolina plant will receive an investment of approximately 325 billion yen ($2.5 billion) to help it scale up battery production.
Ultimately, Toyota intends to build a supply system that can meet the growing demand for BEVs in various regions, including the supply of automotive batteries from its partners.