"Expectations for Increased Competitiveness and Export Expansion"
Japanese automaker Toyota Motor Corporation is reportedly establishing a lithium-ion battery plant for electric vehicles in Kanda-machi, northeastern Fukuoka Prefecture, Kyushu.
According to Japanese media reports including the Yomiuri Shimbun on the 27th, Toyota plans to start construction around next year and operate the battery plant after 2028.
Yomiuri reported that Toyota will invest hundreds of billions of yen (several trillion won) in building the battery plant, and the Japanese government is also expected to provide partial support.
Fukuoka Prefecture is home to Toyota’s luxury car brand Lexus production plant, and the battery plant will be built in a nearby area.
Toyota’s subsidiary Toyota Kyushu produces Lexus sports utility vehicles (SUVs) and sedans, exporting about 90% of them. Toyota plans to produce all new Lexus cars as electric vehicles starting around 2035.
Yomiuri stated, "The new plant will become a Toyota battery production hub following Aichi, Shizuoka, and Hyogo Prefectures," adding, "Batteries produced at the plant will be transported to Toyota Kyushu’s Fukuoka plant."
Toyota, which has been evaluated as somewhat lagging in electric vehicle development, aims to increase its electric vehicle sales from about 100,000 units last year to 3.5 million units by 2030. To achieve this, Toyota announced it will invest a total of 5 trillion yen (approximately 45 trillion won) in electric vehicles by 2030.
Toyota is also currently investing 2 trillion yen (about 18 trillion won) to build a battery plant in North Carolina, USA.
Yomiuri reported, "If automobile-related companies gather in Kyushu, competitiveness will strengthen and it is expected to lead to expanded exports."
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