Toyota Motors (NYSE:TM) announced Thursday that the Japanese automotive company will be investing nearly $50 million to construct a new laboratory facility at its North American R&D headquarters in York Township, Michigan to evaluate batteries for electric and electrified vehicles.
The new lab will play a crucial role in ensuring Toyota's batteries meet the specific requirements of North American customers. Its primary focus will be to verify the performance, quality, and durability of Toyota's automotive batteries. Anticipated to commence operations in 2025, the new battery lab is poised to provide valuable insights and assurance in meeting the demands of the North American market.
“This new investment in our North American R&D operation, which has been a key pillar of the Michigan automotive industry for more than 50 years, shows Toyota’s directional shift towards electrification for all,” said Shinichi Yasui, executive vice president of Toyota Motor North America (TMNA), Research and Development. “By adding these critical evaluation capabilities around automotive batteries, our team is positioned to better serve the needs of our customers, including Toyota Battery Manufacturing North Carolina and Toyota Motor Manufacturing Kentucky, the latter of which will soon be assembling the recently announced all-new, three-row, battery electric SUV.”
In addition to battery development, the lab will undertake various activities such as evaluating Level 2 and Level 3 charging capabilities, assessing connectivity to power sources and infrastructure. Furthermore, there are plans to upgrade the chassis dynamometers at both Toyota R&D campuses in York Township and Ann Arbor to facilitate comprehensive evaluations of full battery electric vehicles. These enhancements will enable thorough testing and analysis to support Toyota's advancements in electric vehicle technology.
“Today’s investment by Toyota demonstrates Michigan’s leadership in pioneering the future of mobility,” said Governor Whitmer. “The $50 million investment in a new laboratory facility to evaluate electric vehicle batteries will create high-skilled, good-paying jobs in Saline and support efforts to help electric vehicles run longer and go farther than ever before.”
Shares of TM are up 0.82% in mid-day trading on Thursday.