Toyota Motor Corporation has stated that it will invest $3.4 billion in the United States to research batteries for electric vehicles and EV production through the end of the decade. The investment is part of Toyota's $13.5 billion worldwide electric vehicle push.

Toyota, the world's largest automaker by volume, has sold over 18.7 million electric vehicles worldwide, including over 4.5 million in the United States. In the United States, electric automobiles account for roughly a quarter of Toyota's sales. By 2030, the automaker expects the proportion to reach over 70%.

Toyota said it wants to establish a new business and a new battery facility with Toyota Tsusho, a division of the Toyota Group, as part of its investment in electric vehicles and batteries in the United States. The new facility, whose site has yet to be determined, is expected to begin production in 2025. Toyota said it will reveal production capacity and the location of the factory later. More than 1,750 new employment are expected to be generated as a goal of the work. 
Toyota Motor North America's Chief Executive Officer, Ted Ogawa, stated, "Toyota's commitment to electrification is centred on ensuring long-term viability for the environment, American employment, and consumers. This investment will help bring more cheap electric vehicles to American customers, decrease carbon emissions considerably, and, most importantly, generate even more American jobs tied to the future of transportation."

Toyota's new firm in the United States will first focus on making batteries for hybrid vehicles.  This will contribute in the development and expansion of its local supply chain and production understanding of Lithium-ion automotive batteries used in electric vehicles.

Toyota has previously said that by 2025, it would increase its electric vehicle range from 55 to roughly 70 models, including hybrid (HEV), plug-in hybrid (PHEV), fuel cell (FCEV), and battery electric vehicles (BEV) to satisfy the rising demand for green vehicles. A minimum of 15 of the 70 models will be battery electric cars (BEVs). By the end of the decade, Toyota hopes to have sold two million zero-emission automobiles throughout the world. During the same time span, the Japanese automaker aims to sell up to 1.8 million electrified vehicles in the United States.

Toyota's decision to invest in electric vehicles in the United States follows an executive order signed by President Joe Biden in August. It aspires for zero-emission vehicles to account for at least 50% of all new vehicles sold by 2030.

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