A Guide to Toyota’s Pledge for EV Battery Production
There are 250 million cars, light-duty trucks, and SUVs on the road in the United States. However, just 1% of those vehicles are powered by an electric motor.
Most experts agree that transitioning to electric vehicles (EVs) is critical. The global environment depends on shifting towards vehicles that do not emit harmful carbon emissions.
There are challenges to EV conversion that prevent it from happening overnight. Affordable batteries are one of those obstacles.
Toyota is committed to protecting the environment and has pledged to increase EV battery production. Read on for the details behind Toyota’s pledge for EV battery production. Explore topics such as the latest Toyota news and sustainable Toyota plans.
Why Is EV Battery Production a Challenge?
Tackling EV battery production is no easy task. The biggest challenge involves mining for the raw materials required for battery production.
EV batteries require nickel, cobalt, and lithium. Mining these raw materials is costly. There are also issues trying to recycle retired EV batteries.
From a consumer standpoint, EV batteries are significantly more expensive than traditional ones. Vehicle manufacturers are working to lower battery costs to make EVs more appealing to consumers.
The clock is ticking to make these changes. State governments like California are implementing laws to make new vehicle sales carbon-neutral by 2035. There is now a sense of urgency to ramp up EV battery production to meet this future demand.
What Is Toyota’s Pledge for EV Battery Production?
Toyota is ready to financially back its promises to the environment. They are in investing nearly $4 billion in battery operations starting in 2025. The investment is directed towards their battery manufacturing plant in North Carolina.
Toyota is also sinking additional financial resources in battery manufacturing. This new funding was in addition to a $5.6 billion investment earlier in the year.
The project is incrementally funded. While starting in 2025, the North Carolina plant will ramp up production over time into the 2030s.
The combined investment is the biggest corporate expenditure in North Carolina’s history. It is expected to create more than 2,000 new jobs in the state. Hiring is expected to begin at the end of 2022 and continue through 2023.
The end result will be increased EV capability in both the United States and Japan. Toyota executives estimate that the company will increase capacity by 40-gigawatt hours.
Toyota is also striving to achieve the goals set for its electric vehicle fleet. By 2035, Toyota has also pledged to go 100% electric. The corporation is seeking a carbon-neutral vehicle fleet and will phase out powertrain cars, SUVs, and light-duty trucks in that time.
Your Guide to Sustainable Toyota Plans
Toyota is going all-in on converting to a fully electric vehicle fleet. Customers in the United States and Japan want these models, and the corporation has to meet this increased demand.
The investment in the North Carolina EV battery plant goes a long way to meeting this objective. If you want to learn more about Toyota’s pledge for EV battery production, contact us today to speak with a sales representative.
0 comment(s) so far on A Guide to Toyota’s Pledge for EV Battery Production