Japanese automaker Toyota announced today, September 7, plans to invest $ 13.5 billion by 2030 in the development and production of batteries for electric vehicles. The company’s management announced this at a meeting with investors and the press, which was dedicated to the topic of electric vehicles and batteries for them.
$ 9 billion of this amount will go to the construction of factories for the production of such batteries. Toyota did not say how many factories it plans to build in total, but announced that 10 production lines should be created by 2025, and about 70 by the end of the decade (one plant can have multiple production lines). The potential capacity of the batteries produced there per year will be about 200 gigawatt-hours. The company will direct the remaining $ 4.5 billion to research in this area and the development of such batteries.
Like many other automakers, Toyota is going to significantly increase production of electric vehicles in the coming years – by the end of the decade, the company plans to sell 2 million electric vehicles a year. Other major automakers, including General Motors, Ford and Volkswagen, have also announced plans to build factories to make batteries for electric vehicles.
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