Toyota will reduce the cost of production of electric vehicles

Toyota has developed an investmenta program to reduce the cost of electric vehicles produced in the United States. According to a statement from the American division of Toyota Motor Corp, the company will invest about $ 3.4 billion by 2030 in the development and production of car batteries in the United States.

The leader of the global automotive industry said that forto implement plans for the production of electric vehicles in the United States, a plant for the production of car batteries will be built. The new facility will create 1,750 jobs in the United States. The company is allocating $ 1.29 billion for the construction of the plant, which is part of Toyota's overall investment program for the production of batteries in the United States. The plant is planned to be launched as early as 2025.

Investment in the US economy in the amount of 3.4 billiondollars, in turn, are part of Toyota's global program to allocate $ 13.5 billion to develop car batteries by 2030. The implementation of the program will reduce the cost of batteries by 30% and make electric vehicles cheaper and more affordable for American consumers.

Toyota plans align with American plansauthorities aimed at the popularization and development of electric vehicles. In August 2021, the President of the United States signed an executive order that sets the goal of reaching half of zero-emission vehicles (electric vehicles, fuel cell vehicles, and hybrid vehicles) by 2030.

Source: reuters