@Toyota: Toyota Tsusho to further Invest on Battery Factory for Vehicles in the US

Toyota Tsusho Corporation (“Toyota Tsusho”), who established Toyota Battery Manufacturing, North Carolina (TBMNC) together with Toyota Motor North America, Inc (“TMNA”), regional headquarters of Toyota Motor Corporation in the US, is set to prepare for the production commencement. TBMNC is to manufacture batteries for vehicles in the US market.

Toyota Tsusho and TMNA have decided to ramp up its capital to develop infrastructure, and further to invest approximately 2.1 billion US Dollars on the TBMNC, currently under construction, to support its future expansion, expecting demand of the batteries to be soaring in the future. Of which, Toyota Tsusho is set to make a further investment of 210 million US Dollars.

TBMNC contributes to the realization of the carbon neutrality with production and provision of lithium- ion battery required to meet the increasing demand of electric vehicles.

Toyota Tsusho group announced both its target for carbon neutrality by 2050 in July 2021 and its trajectory through “Carbon Neutral Roadmap 2030” in November 2021, in order for the group to reduce greenhouse gas emission (“GHG”) by 50% compared to 2019 levels by 2030, and to achieve carbon neutrality by 2050.

Promoting businesses that contribute to the GHG reduction is Toyota Tsusho group’s one of important strategies. Among those businesses, Toyota Tsusho views business for batteries of vehicles as a crucial strategy for the future growth. Through creating a wide range of added value with a leverage of its experience from the automotive manufacturing business, Toyota Tsusho supports TBMNC starting the operation and managing its stable battery manufacturing.

Toyota Tsusho contributes to a transition to decarbonized society, propelling businesses for the carbon neutrality, to pass on a better global environment for the children of the future.