TOKYO (Reuters) -Toyota Tsusho Corp, part of the Toyota group, does not expect Toyota Motor Corp to meet its target to produce a record 9.7 million vehicles worldwide this business year, an executive at the trading firm said on Friday. The comment is likely to add to speculation among analysts and investors that the world's biggest automaker will have to slash its production goal for the year to March 2023. Hideyuki Iwamoto, chief financial officer (CFO) at Toyota Tsusho Corp, told an earnings news conference he expected Toyota Motor's production to come in below target based on the automaker's monthly production results and unofficial announcements on future output.
WASHINGTON (Reuters) -Toyota Motor Corp announced on Monday it is building a new $1.29 billion battery plant in North Carolina as it moves to expand its hybrid and electric vehicle efforts. The new plant, at a site in Liberty that will begin production in 2025, will initially be capable of supplying lithium-ion batteries for 800,000 vehicles annually, and will "pave the way" for Toyota's U.S. production of electric vehicles, said Chris Reynolds, chief administrative officer for Toyota Motor North America. The investment will be made by a new company called Toyota Battery Manufacturing and is expected to create 1,750 new U.S. jobs.
Toyota Motor Corp is announcing Monday it will build batteries at a new $1.29 billion plant in North Carolina as it moves to expand its electric vehicle efforts. The largest Japanese automaker is announcing it will locate the plant at a site in Liberty, N.C. that will begin production 2025 and be capable of supplying lithium-ion batteries for 800,000 vehicles annually. The $1.29 billion investment made by Toyota and Toyota Tsusho as part of a new company called Toyota Battery Manufacturing and is expected to create 1,750 new U.S. jobs.