Toyota announced today in Japan that it will invest $3.4 billion (¥380B) in automotive batteries in the United States through 2030. The capital spending is for developing and localizing automotive battery production, including those for battery electric vehicles. It is part of the global total of $13.5 billion (¥1.5T) for spending on battery development and production announced last month by TMC. Globally, Toyota has sold more than 18.7 million electrified vehicles, including 4.5 million in the US. (Toyota JV Will See SUV EV Branded Subaru Solterra in 2022)
Toyota Motor North America also announced today that it will establish a new company and build an automotive battery plant together with Toyota Tsusho in the US. Production is expected to start in 2025, the project includes an investment of approximately $1.29 billion until 2031, which includes funds that will be used to develop land and build facilities, resulting in the creation of 1,750 new American jobs. Continue reading









Stellantis, LG Energy JV for North American Battery Production
LG Energy has a growing number of JVs about battery technology and manufacturing.
Stellantis (NYSE / MTA / Euronext Paris: STLA) and LG Energy Solution today announced that they have entered into a memorandum of understanding to form a joint venture to produce battery cells and modules for North America. The JV will establish a new battery manufacturing facility supporting Stellantis’ goal of realizing more than 40% of its sales in the U.S. comprised of electrified vehicles by 2030. Production is scheduled to start by the first quarter of 2024. Annual production capacity of 40 gigawatt hours is predicted.
The batteries produced at the new facility will be supplied to Stellantis assembly plants throughout the US, Canada and Mexico for installation in next-generation electric vehicles ranging from plug-in hybrids to full battery electric vehicles that will be sold under the Stellantis family of brands. Stellantis was created by the merger of Fiat Chrysler, aka FCA, and Peugeot or PSA. Continue reading →