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Toyota increases investment in its US plant

Major automotive giant Toyota has decided to invest significantly more money in the production of its own electric vehicles in the United States of America. Significantly, just months after the automaker originally announced a $240 million investment in its West Virginia plant, it has poured an additional $73 million into it. Now the company says the investment will increase its hybrid powertrain capacity to 600,000 units a year.

Workers at the plant will also start producing about 120,000 rear motor stators annually, just to increase the production of electric motors. Currently, the plant can produce 1 million transmissions and engines per year off the assembly line. After the latest investment, Toyota will invest more than $2 billion in the plant. Meanwhile, it cannot be ignored that a separate investment of $17 million will allow Toyota’s Tennessee plant to produce an additional 300,000 hybrid transmission cases and housings per year, greatly helping to increase its current production capacity of around 1 million.

It should also be noted that the workers of the plant also produce about 1.8 million engine blocks per year. The company says these parts are required for all Toyota and Lexus electric vehicles it assembles in North America. Thus, the total investment of the automaker in the plant at the moment is an impressive 389 million dollars. Overall, Toyota aims to offer electrified options for all of its vehicle lines, as well as Lexus vehicles, by 2025.

Moreover, the company is also going to release 30 models of electric vehicles by 2030. And just the same, larger investments in the production of its own electric vehicles will help the automaker achieve these very ambitious goals. Increasing EV battery production is also important, as the company recently announced other plans to build a $1.29 billion battery plant in North Carolina.

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