Toyota to Invest $5.6 Billion in EV Batteries Following the Inflation Reduction Act

URLhttps://www.thomasnet.com/insights/toyota-to-inves
SourceThomasNet
Date Published09/13/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Toyota
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2024
Domestically, the work will be done:In-house
Capital investment ($):2500
Country(ies) from which reshored:Japan
State(s) reshored to:NC
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredEV batteries
What domestic positive factors made reshoring more attractive?Government Incentives, Zero Emissions in CA by 2035
Government Incentive dollar amount:Inflation Reduction Act
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