Toyota is investing 730 billion yen ($5.6 billion) in Japan and the U.S. to boost production of batteries for electric vehicles, the Japanese automaker said Wednesday.
Production is set to start between 2024 and 2026. In Japan, 400 billion yen ($3 billion) will go into the Himeji Plant of Prime Planet Energy & Solutions Co. in Japan, as well as in Toyota plants and property. In the U.S., about 325 billion yen ($2.5 billion) will be invested in Toyota Battery Manufacturing in North Carolina, Toyota Motor Corp. said.
