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Japanese Toyota plans to invest up to 730 billion yen ($5.6 billion) in battery production for electric vehicles in Japan and the United States. As reported by Ukrinform,
As reported by Ukrinform, this was reported by Kyodo News.
The company said it plans to start battery production between 2024 and 2026.
The automaker will spend about 400 billion yen to build a factory in Japan, and another 325 billion yen will be allocated to build the Toyota factory in North Carolina, USA.
Toyota’s investment plan comes as major automakers step up efforts to produce electric vehicles amid tightening regulations around the world to combat global warming.
Recently, it became known that the US state of California plans to ban the sale of cars with gasoline engines, including hybrid cars, until 2035. The move could spread to the rest of the United States and lead to a race to develop electric vehicles among automakers.
As reported by Ukrinform, the Japanese company Honda Motor Co. Together with the South Korean company LG Energy Solution Ltd, it will establish a joint plant for the production of batteries for electric vehicles in the United States.
Source: Ukrinform
I’m Maurice Knox, a professional news writer with a focus on science. I work for Div Bracket. My articles cover everything from the latest scientific breakthroughs to advances in technology and medicine. I have a passion for understanding the world around us and helping people stay informed about important developments in science and beyond.
