Toyota will invest $5.6 billion to boost its global battery supply by up to 40 gigawatt hours. Just over half of the money will be invested in a plant in western Japan, with the balance used to boost capacity at a site in North Carolina.
U.S. turbocharging giant BorgWarner Inc. and Japanese piston ring specialist Riken Corp. are just two parts makers ramping up development of technologies to support Toyota's vision of hydrogen combustion.
Toyota orchestrated the creation of the Commercial Japan Partnership Technologies Corp. last year to help transition Japanese commercial vehicle makers for the shift to full-electric, hydrogen fuel cell and self-driving technologies.
In early 2024, Lexus will open a world head office in a secretive mountain complex shrouded in cedar forests. Executives say the facility will not only revolutionize the way Lexus develops cars but speed the brand's shift into the EV era.