Toyota to invest $5.2bn to expand EV battery manufacture in Japan, US
By Peter Murphy2022-09-05T13:53:00
The investment in battery production is a significant step forward for the global automaker whose emissions-cutting efforts have focused on hybridisation over EVs.
On and off the world’s largest car company by unit sales, a title it trades with Germany’s Volkswagen Group, the Japanese automaker has been much slower to embrace fully-electric cars, having instead focused on the hybridisation of most of its range as well as the launch of its hydrogen-powered Mirai.
Volkswagen, propelled by the damage of the diesel emissions scandal, has been selling EV variants of its Golf and Up! for several years and is expanding its all electric I.D. model range.