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Toyota Motor Corp plans to build a new US$1.29 billion factory in the US to manufacture batteries for gas-electric hybrid and fully electric vehicles.
The plant location was not announced, but the company said it would eventually employ 1,750 people and start making batteries in 2025, gradually expanding through 2031.
The plant is part of US$3.4 billion that Toyota plans to spend in the US on automotive batteries during the next decade. It did not detail where the remaining US$2.1 billion would be spent, but part of that would likely go on another battery factory.
It comes amid a flurry of global announcements
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