Toyota to invest $5.3bn to make EV batteries in U.S. and Japan

TOKYO — Toyota Motor announced on Wednesday that it will invest up to 730 billion yen ($5.3 billion) to expand production of batteries for electric vehicles in Japan and the U.S. in a move to meet increasing EV demand.The auto giant will invest 400 billion yen in plants in Japan and an additional 325 billion yen in a battery factory to be built in the U.S.

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