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Toyota plans to invest in a new battery plant in the US


Nov 21, 2021

Panasonic may become Toyota partner

Toyota Motor Corporation wants to invest billions of dollars in a battery facility on the outskirts of Greensboro, North Carolina, as part of its attempts to boost electric car production in the United States.

Toyota and Panasonic Corp. may form Prime Planet Energy & Solutions, a joint venture between the two Japanese battery companies, under the terms of the agreement.

The project is part of a promised investment of $ 3.4 billion

The facility in North Carolina will be the next in a long line of major manufacturers to commit to electric powertrains.

Toyota has been slower to expand its electric car footprint in the United States than its competitors, and it is complying to tighter pollution requirements.

Toyota said in February that it will launch two all-electric cars in the United States beginning next year: the bZ4X, a mass crossover SUV, and a high-end Lexus model based on the same platform.

The business ceased making an all-electric version of its best-selling RAV4 seven years ago, so these will be the first battery-powered automobiles in the United States.

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