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Monday 5 September 2022
Does Toyota's plan to convert engine plants into battery factories signal a stronger EV shift?
A few days ago, Toyota announced a $5.6 billion investment plan to produce batteries for fully electric vehicles in Japan and the U.S.
That includes a $2.5 billion expansion of a North Carolina battery factory barely under construction, adding capacity for EV batteries and very likely suggesting a future commitment to U.S.-built electric vehicles.
While earlier in the week, Toyota only named “Toyota plants and property,” as being part of the initial investment on the Japan side, a report from Automotive News adds much more detail. It suggests that Toyota does indeed see EVs as a profound, permanent shift.
Read the whole news on greencarreports.com