Toyota confirms hybrid battery plant in Japan

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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