TOKYO (Reuters) -Japan’s Toyota Motor plans to build a battery plant for electric vehicles in the southwestern prefecture of Fukuoka and supply its batteries to a factory that makes luxury Lexus brand cars, the Nikkei business daily reported on Friday. Additionally, the decision underscores Toyota’s commitment to integrating the Toyota EV battery into its supply chain.
The world’s top-selling automaker would seek to make the island of Kyushu where Fukuoka is located a central part of its supply chain for battery-powered vehicles and an export base for Asia, the newspaper said. #ToyotaEVBattery
A Toyota spokesperson said the company was aware of the report, but that it was not something it had announced. Toyota has been taking various initiatives to strengthen its EV battery production capacity, the spokesperson added.
Toyota makes Lexus vehicles at the Miyata plant of its subsidiary Toyota Motor Kyushu.
The automaker plans to introduce EVs with next-generation batteries globally from 2026, produced by its BEV Factory unit.
The company aims to sell 3.5 million EVs annually by 2030, with nearly half produced by the BEV Factory unit. In 2023, it sold 104,000 EVs.
Toyota has not yet finalised the amount for the battery plant or its construction start date. Nikkei did not disclose its information source. #ToyotaEVBattery
The newspaper reported that Primearth EV Energy, a Toyota subsidiary, will operate the new plant. This subsidiary specializes in batteries for various vehicles.
The facility will play a significant role in exporting Toyota EV batteries across the region. As a result, Toyota strengthens its position in the global electric vehicle market, positioning itself for future growth.
