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Toyota to Put Additional Billions of Dollars Into EV Batteries

TOKYO—Toyota Motor laid out plans for spending $5.6 billion on electric-vehicle battery capability, because it strikes to catch up after expressing doubts about how rapidly the world ought to shift towards EVs.

On Wednesday, Toyota mentioned it deliberate to spend about $2.5 billion on scaling up manufacturing at a plant it is building in North Carolina. Another roughly $3 billion shall be invested in vegetation in Japan in addition to a facility operated by Prime Planet Energy & Solutions Co., a three way partnership of Toyota and Panasonic Holdings

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