Toyota to invest $3.4 billion for EV battery production in the U.S., will create 1,750 jobs - NewsBreak

Toyota Motor Corp. announced Monday a big get on the electric vehicle market in the U.S., saying it will make a $3.4 billion investment in EV batteries through 2030. The investment is for developing and localizing EV battery production, and is part of the Japan-based automaker's pledge to invest $13.5 billion in battery development and production globally. As part of the investment, Toyota North America said it will create 1,750 jobs as it establishes a new company and build an automotive batter plant, with an aim to start battery production in 2025. The project includes an investment of $1.29 billion until 2031. Toyota's U.S.-listed shares, which were still inactive in premarket trading, has gained 14.0% year to date while the S&P 500 has advanced 19.0%.