Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Toyota Tsusho Corporation
  6. News
  7. Summary
    8015   JP3635000007

TOYOTA TSUSHO CORPORATION

(8015)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Toyota to build new $1.3 billion battery plant in North Carolina

12/06/2021 | 04:08pm EST
Auto Shanghai show in Shanghai

WASHINGTON (Reuters) -Toyota Motor Corp announced on Monday it is building a new $1.29 billion battery plant in North Carolina as it moves to expand its hybrid and electric vehicle efforts.

The new plant, at a site in Liberty that will begin production in 2025, will initially be capable of supplying lithium-ion batteries for 800,000 vehicles annually, and will "pave the way" for Toyota's U.S. production of electric vehicles, said Chris Reynolds, chief administrative officer for Toyota Motor North America.

The investment will be made by a new company called Toyota Battery Manufacturing and is expected to create 1,750 new U.S. jobs.

In October, Toyota said it would establish a new company and build a new U.S. automotive battery plant with Toyota Tsusho, the automaker's metals trading arm and a unit of the Toyota Group. Toyota will hold a 90% stake in the battery company.

North Carolina said the new plant will initially produce batteries for Toyota's hybrid vehicles, and intends to produce batteries for EVs long term.

The state will reimburse Toyota for up to $79.1 million over 20 years and if Toyota expands the project to $3 billion it could receive up to an estimated $315 million.

The state approved additional support to help with final site preparations, including $135 million for road and other site improvements. If Toyota expands the project another $185 million in site development funds would become available.

Toyota said the North Carolina plant plans to eventually expand to at least six production lines for up to 1.2 million batteries annually.

The investment is part of Toyota's October announcement it would invest $3.4 billion (380 billion yen) on U.S. automotive battery development and production through 2030.

The funds are part of the $13.5 billion Toyota announced in September it planned to spend globally by 2030 to develop batteries.

Automakers around the world are investing billions of dollars to ramp up battery and electric vehicle production as they face increasingly stringent environmental regulations.

Toyota has mounted a lobbying campaign to try to convince U.S. lawmakers not to include an additional $4,500 tax incentive for union-made electric vehicles.

In August, U.S. President Joe Biden signed an executive order setting a target to make half of all new vehicles sold in 2030 zero-emissions vehicles.

Biden's 50% goal and the automakers' 2030 goals includes battery electric, fuel cell and plug-in hybrid vehicles that also have a gasoline-engine.

(Reporting by David ShepardsonEditing by Marguerita Choy and Alistair Bell)

By David Shepardson


ę Reuters 2021
All news about TOYOTA TSUSHO CORPORATION
02:09aTOYOTA TSUSHO : Support for damage caused by the large-scale eruption and tsunami in Tonga
PU
01/26TOYOTA TSUSHO : Institute of Industrial Science, The University of Tokyo, Prime Planet Ene..
PU
01/26TOYOTA TSUSHO : Invests in May Mobility, a leader in autonomous vehicle technology and shu..
PU
01/20TOYOTA TSUSHO : "Study toward development of a regional low carbon hydrogen model based on..
PU
01/19Toyota Tsusho Corporation - Mobility 54 Investment SAS agreed partnership with Aceleron..
AQ
01/18TOYOTA TSUSHO : Mobility 54 Investment SAS agreed partnership with Aceleron -investment an..
PU
01/14Nikkei 225 Down 1.3% on Omicron Outlook, Wall Street Cues, Stronger Yen
MT
01/11TOYOTA TSUSHO : to Conduct Feasibility Studies toward the Development of Hydrogen Utilizat..
PU
01/05TOYOTA TSUSHO : 2022 New Year's Greeting
PU
2021TOYOTA TSUSHO : Participates in the Automobile Terminal Operation Business of the Patimban..
PU
More news
Financials
Sales 2022 7 337 B 63 582 M 63 582 M
Net income 2022 199 B 1 726 M 1 726 M
Net Debt 2022 995 B 8 626 M 8 626 M
P/E ratio 2022 7,82x
Yield 2022 3,30%
Capitalization 1 557 B 13 487 M 13 492 M
EV / Sales 2022 0,35x
EV / Sales 2023 0,32x
Nbr of Employees 64 402
Free-Float 63,6%
Chart TOYOTA TSUSHO CORPORATION
Duration : Period :
Toyota Tsusho Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TOYOTA TSUSHO CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 4 425,00 JPY
Average target price 6 135,00 JPY
Spread / Average Target 38,6%
EPS Revisions
Managers and Directors
Ichiro Kashitani Managing Executive Officer
Hideyuki Iwamoto CFO, Director, Head-Accounting & Legal Affairs
Jun Karube Manager-Logistics
Hiroshi Tominaga Director, Chief Strategy &Human Resources Officer
Takahiro Kondo Director, VP & Chief Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
TOYOTA TSUSHO CORPORATION-12.83%14 216
MITSUBISHI CORPORATION4.00%49 035
ITOCHU CORPORATION3.21%47 165
MITSUI & CO., LTD.3.27%39 760
ADANI ENTERPRISES LIMITED-1.39%25 557
SUMITOMO CORPORATION1.68%18 899