Toyota puts a lot of money on the table: 730 billion yen (about $5.6 billion). 400 billion yen will be invested in Prime Planet Energy & Solutions Co (PPES) plant in Himeji, Japan. The remaining approximately $2.5 billion will be invested in the Toyota Battery Manufacturing plant in North Carolina, USA. This investment will be used to increase battery production capacity, divided between Japan and the US, by 40 GWh by 2024-2026.
This includes both the construction of new efficient production lines and the training of personnel. In addition, Toyota wants to meet new needs “by offering multiple powertrains and as many options as possible”. To this end, the manufacturer must create an environment to meet the demand and supply the world with electric vehicles without interruption. Toyota is also considering supplying EV batteries to its partners.