Toyota will increase investments into battery technologies by 500 billion yen ($4.4 billion) to 2 trillion yen.
Toyota, one of the world's largest automakers, is planning to invest 4 trillion yen to build a full lineup of 30 battery-powered electric vehicles by 2030.Most of Toyota's current electric vehicle sales are hybrid EVs that are powered by a combination of an internal combustion engine and battery-operated electric motors.The Toyota Motor Corp. logo in the Toyota City Showcase exhibit at the company's Mega Web car theme park in Tokyo, Japan, on Monday, Nov. 1, 2021.
It aims to also increase global sales of battery electric vehicles by 3.5 million units a year by the end of the decade, CEO Akio Toyoda said Tuesday.
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