Toyota, Stellantis to Build EV-Battery Factories in the U.S.

[Zorro]

Source: Wall Street Journal

Car makers accelerate push into the American electric-vehicle market as President Biden toughens fuel-efficiency standards

Toyota Motor Corp. and Jeep parent Stellantis NV said separately Monday they would build battery factories in the U.S., the latest in a string of big-ticket investments by auto makers looking to sell more electric cars.

Stricter fuel-efficiency targets set by the Biden administration, combined with broader efforts around the globe, are pushing car companies to spend tens of billions of dollars collectively on new factories for EVs and the batteries to power them.

Toyota said it planned to spend $3.4 billion through 2030 to build electric-car batteries in the U.S. Previously it said it would spend roughly $9 billion building battery factories around the world as part of a $13.5 billion battery plan that includes research, but it hadn’t specified how much would be spent in the U.S.

Toyota didn’t present a full breakdown on the U.S. spending, but it said it and an affiliated company would spend $1.29 billion on a new battery plant. The plant aims to start production in 2025.

Read more: https://www.wsj.com/articles/toyota-stellantis-to-build-ev-battery-factories-in-the-u-s-11634551200

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Looks like Toyota is doing a slight backtrack on its hydrogen fuel cell commitment.

[Devil Child]

1. Ill take any increase in US manufacturing and US jobs as a net positive

Blocked by paywall

[mahatmakanejeeves]

2. Try reading it using your account at your local public library.

Many libraries subscribe to The Wall Street Journal. in electronic form.

[Devil Child]

3. Thank you, have never considered that approach

Have a good one mahatmakanejeeves

[DeeNice]

4. non-paywalled link

[link:https://finance.yahoo.com/news/toyota-build-1-3-billion-113137494.html?fr=sycsrp_catchall|

[Devil Child]

5. Very much appreciated! n/t

[Initech]

6. Hydrogen fuel is kind of a gimmick. EV is definitely the wave of the future!

[Miguelito Loveless]

8. Yes,

You spend three times the energy to go about the same distance. H2 stations cost ten times as much, and have lots of unique "challenges" such as:

https://en.wikipedia.org/wiki/Hydrogen_embrittlement

Cracks are NOT what you want in your dispensers.

[Initech]

9. Yeah the Toyota Mirai is a nice concept, I will give them that.

But where do you get it fueled? There's literally one hydrogen fuel station in my area and it's 20 miles out of the way.

If they could get more hydrogen stations on the map that would be one thing. But who wants to invest in that when electricity is already here? We just need more and faster charging stations and I think those are coming.

[Miguelito Loveless]

10. Precisely,

and an H2 station clocks in at around $2 million each, compared to 16 superchargers for the same price.

[Miguelito Loveless]

7. Hydrogen for pasenger vehicles is DOA

The economics and physics don't work.

[Mr.Bill]

11. Hopefully, historians will look back on this era

as the time when we realized everything we buy doesn't need to cross an ocean in a shipping container.

[NQAS]

12. It'll be interesting to see where they build

I know there are tons of factors going into these decisions - where the auto factories are, bribes (aka tax incentives), infrastructure, weather, power reliability, supply chain logistics, prevailing wages, unions vs. non-unions, etc. All of that said, it sure would be nice to see some of these facilities go into blue or even blue-ish states. Maybe New England. Michigan. New Mexico.

That said, I doubt that'll happen. They'll go to red states with non-union workers and race to the bottom wages.