Toyota invests $50M in new US battery lab for EV rollout.
Toyota Motor North America is investing $50m to build a new battery lab in the US to support its electric vehicle (EV) strategy. The lab will evaluate batteries for electric and hybrid vehicles in North America to ensure they meet consumer requirements for performance, quality and durability. Toyota plans to launch 10 new fully electric models by 2026, accounting for 1.5 million in EV sales annually. The automaker also established a new “BEV Factory” to accelerate the development of “next-generation BEVs that only a carmaker can produce”.