Toyota is investing another 90 million in electric car production

Toyota is investing another $90 million in electric car production in the US

Toyota is increasing funding for the production of electric vehicle components in the United States. Just months after the automaker announced a $240 million investment in its West Virginia plant, it has committed an additional $73 million to its development.

Image source: Toyota

Image source: Toyota

The company said this will increase hybrid transmission production to 600,000 units per year. In addition, about 120,000 stators are produced here annually, which will increase the production of electric motors. The plant currently produces one million gearboxes and motors annually. With the latest tranches, the investment in the facility is approximately $2 billion.

In addition, Toyota will invest $17 million in a plant in Tennessee that will increase hybrid transmission case production there by an additional 300,000 units per year (the plant’s current capacity is approximately 1 million units per year). It also produces about 1.8 million engine blocks a year. The company said all of these components are needed to build Toyota and Lexus electric vehicles in North America. Thus, the automaker’s total investment in this plant, together with the latter amount, will be $389 million.

Toyota aims to produce electrified versions of its entire range of vehicles as well as Lexus-branded models by 2025, and 30 electric vehicle models by 2030. In order to achieve these goals, the company is increasingly investing in the production of components for electric vehicles. In addition, the company recently announced plans to build a $1.29 billion battery manufacturing facility in North Carolina, USA.


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Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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