is plowing extra money into EV production in the US. Just a couple of months after the automaker introduced a $240 million funding in its West Virginia plant, it is pumping another $73 million into the facility.
The company says it will increase hybrid transaxle production capability to 600,000 models per year. Workers at the plant may also begin making round 120,000 rear motor stators yearly to bolster production of electrical motors. The plant can at present roll 1 million transmissions and engines off the production line per year. Following the newest funding, Toyota can have put over $2 billion into the plant.
Meanwhile, a separate $17 million funding will allow Toyota’s Tennessee plant to make roughly 300,000 extra hybrid transaxle circumstances and housings per year (the present capability is round 1 million). The manufacturing unit’s employees additionally manufacture round 1.8 million engine blocks a year. The company says these components are important for all the Toyota and Lexus EVs it assembles in North America. This brings the automaker’s whole funding in the plant up to now to $389 million.
Toyota is on a mission to supply electrified choices throughout its whole lineup, in addition to for Lexus autos, by 2025 and to . Investing extra closely in EV production will assist it attain these targets. Increasing EV battery production is essential too, and the company just lately introduced plans to .
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