Toyota Industries Corporation
Toyota City, Japan, February 20, 2020―Toyota Motor Corporation (Toyota) and Toyota Industries Corporation (Toyota Industries) announce that they will jointly develop a new battery for hybrid electric vehicles (HEV). The battery will be developed in anticipation of the further development and market introduction of HEVs, forecasted to rapidly expand in the future. Moving forward, the companies will proceed to discuss matters such as target vehicle models as well as battery specifications and performance, prior to equipping Toyota HEVs with the new batteries.
Additionally, in order to meet the demand for increased production of Toyota HEVs, the production of the new batteries is planned to take place at Toyota Industries' Kyowa Plant (Obu-shi, Aichi Prefecture) and at a site on company property located adjacent to their Higashiura Plant (Higashiura-cho, Chita-gun, Aichi Prefecture). In the future, Toyota Industries will work with Toyota to build and strengthen the supply structure.
Moving forward, Toyota and Toyota Industries will promote the development of technology and products to support the popularization of electrified vehicles as the Toyota Group aims to help reduce CO2 emissions to help curb global climate change.