Part 5/7:
Toyota, the world's largest automaker, recently opened its first US-based EV battery plant in North Carolina, a $14 billion facility that promises to produce batteries utilizing 100% renewable energy. The plant aims to deliver up to 30 GWh of battery capacity annually and is poised to start production in April.
Additionally, Toyota announced plans for a battery manufacturing facility for its luxury brand, Lexus, in Shanghai, China, targeting operations by 2027. This move addresses recent challenges Toyota faced in the Chinese market, which saw a 9% decline in sales, necessitating new factories for the production of their 30 all-electric models planned by 2030.