Toyota: Announces additional investment in battery plant to produce EVs at U.S. plant from 2025!

Hello!! VeinWorks.

Below is some interesting news.

According to NHK NEWS WEB (June 1, 2023), Toyota will produce EVs at its U.S. plant from 2025 and announced additional investment in a battery plant

Toyota Motor Corporation has announced that it will begin EV production at its plant in Kentucky in the southern U.S. starting in 2025 in response to the growing market for electric vehicles (EVs) and will invest approximately 290 billion yen in a battery plant under construction in southern North Carolina as an additional investment for this purpose.

In April of this year, the U.S. government launched a new tax incentive program that provides a maximum tax benefit of approximately US$7,000 per EV purchased, but in order to qualify, the EVs must be assembled in North America and meet conditions such as the procurement location of key minerals used to make the storage batteries. Japanese manufacturers' EVs are not included in the program at this time.

Can all raw materials be procured locally for production in the U.S.?　

Will there be transportation and export from Japan?　

Vein Works supports export operations to the U.S. and other countries.

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