We reported last week that Toyota is planning to build three hybrid battery factories by 2011 in an effort to increase its worldwide sales of hybrids to 1 million units a year. One of the three has been officially confirmed by Toyota today.
The plant, which will produce nickel-metal hydride batteries, is a joint venture between Toyota and Japanese electronics giant Matsushita Electric. Expected to have a capacity of 200,000 battery packs a year the plant will cost a total of $291.3 million to build.
One of the three plants will manufacture the next-generation lithium ion batteries for Toyota. The industry together sold 429,000 hybrids in 2007.
Source: Automotive News (Subscription Required)
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