Toyota Accelerates its Investments in the All-Electric and Partial Electric Space

Discussion in 'In the News' started by xcel, Oct 25, 2021.

  1. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    [​IMG] A new American plant, production, and jobs.

    Wayne Gerdes – CleanMPG – Oct 18, 2021

    Toyota’s 2021 and 2022 Electrified Model Lineup

    [​IMG]

    Toyota announced that it will invest approximately $3.4 billion in automotive batteries in the United States through 2030. Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of approx. $13.5 billion set aside for investment in battery development and production announced last month by Toyota.

    To drive battery production localization, Toyota North America announced that it will establish a new company and build an automotive battery plant together with Toyota Tsusho in the U.S. Aiming to start production in 2025, the project includes an investment of approximately $1.29 billion until 2031, which includes funds that will be used to develop land and build facilities, resulting in the creation of 1,750 new American jobs.

    Part of the new company’s activities will include helping Toyota to further develop and expand its local supply chain and production knowledge related to Li-ion automotive batteries. The venture will first focus on producing batteries for its hybrid lineup. Additionally, the move is expected to help further the company’s goals to create a net positive impact including carbon neutrality in a sustainable and practical way. Further details of the project, including details on a site, production capacity, business structure, etc. will be shared at a future time.

    Quick facts about Toyota’s electrification efforts:
    • Cumulatively, Toyota has sold more than 18.7 million electrified vehicles, including over 4.5 million in the U.S.
    • Electrified vehicles account for nearly 25 percent of Toyota’s U.S. sales volume and is expected to rise to nearly 70 percent by 2030
    • To meet the growing demand, Toyota continues to steadily expand its lineup of electrified vehicles, including hybrid (HEV), plug-in hybrid (PHEV), fuel cell (FCEV) and battery electric vehicles (BEV), from 55 models today to about 70 models by 2025
    • Of the 70 models, 15 will be BEVs, including seven Toyota bZ (Beyond Zero) models
    By 2030, Toyota expects to sell two million zero emission vehicles (BEVs and FCEVs) globally, and in the U.S., the company expects to sell between 1.5 million to 1.8 million electrified vehicles, including ZEV models.
     
    TheFordFamily and BillLin like this.

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