July 24, 2024

Toyota revealed on Monday that it would spend $3.4 billion on batteries for cars within the United States, including nearly $1.3 billion for an unnamed battery factory that is expected to hire 1,750 new employees.

New production of the battery, set to start in 2025, will enable the automaker to create its batteries made of lithium for future use on hybrid versions of its U.S.-built automobiles.

“Toyota’s commitment to electrification is about achieving long-term sustainability for the environment, American¬†jobs, and consumers,” Ted Ogawa, chief executive officer of Toyota Motor North America, stated in a¬†release¬†Monday.

“This investment will help usher in more affordable electrified vehicles for U.S. consumers, significantly reduce carbon emissions, and importantly, create even more American jobs tied to the future of mobility,” said the president.

In 2030, Toyota plans to launch two million zero-emission vehicles globally.¬†According to Toyota’s announcement, between¬†1.5 million and 1.8 million are expected to be sold within the United States.

With a different announcement, the automaker also announced its latest expansion plans for the 2022 Tundra at its Huntsville, Alabama, manufacturing plant. This new model will feature the hybrid electric twin-turbo V6 and gas-powered engines.

“Our team members in Alabama recognize the confidence and trust Toyota places in us since we are the only plant selected to build engines for the all-new Tundra,” Jason Puckett, president of Toyota Alabama, said in a¬†release.

“Launching the brand new twin-turbo V6 line and celebrating our 20th anniversary reminds us how fortunate we are to have the incredible team members that have helped make Toyota Alabama known as “the engine capital of the world.'” he added.

Among several significant automakers, Toyota recently announced plans to produce its batteries as the market shifts towards electric automobiles. Chrysler is also planning to construct its battery factory in the U.S.

German automaker Volkswagen announced in March that it plans to build six more battery factories worldwide in a rapid transition from gasoline-powered vehicles.

“Our transformation will be fast, it will be unprecedented,” said VW Group CEO Herbert Diess in an announcement.¬†“The transformation will be bigger than anything the industry has seen in the last century.”

In its current global initiative, Volkswagen plans to increase the number of charging stations.

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