Toyota is announcing plans to invest $3.4 billion in automotive batteries in the United States through 2030. That includes a hefty investment in a battery plant at a yet-to-be revealed site in America.
The announcement from Toyota states the investment is for developing and localizing automotive battery production. In that vein, Toyota Motor North America also said it plans to build a $1.29 billion battery plant in the U.S. With the aim to start battery production in 2025, the factory is expected to employ 1750 people.
The batteries would go into both electric and hybrid vehicles. Details about a site for the battery plant, plus production capacity and business structure, are anticipated at a future date. The Japanese automaker says it will have 15 fully electric vehicles for sale by 2025.
The Scott County Toyota plant is the company’s largest auto assembly operation in the world.