Toyota is yet again delaying EV battery plans
Toyota is delaying its plans for a new EV battery plant in Japan for the second time, citing slower-than-expected demand for electric vehicles. The company had previously purchased land in Fukuoka for the plant, with an agreement expected to be finalized this Fall, but construction has been pushed back by several months. Toyota will review and adjust its plans over the next year, impacting the anticipated breakthrough EV batteries that aim to double driving range and reduce charging times.
The breakthrough EV batteries Toyota says will double driving range and cut charging times are facing another setback. The company is once again delaying plans for a new battery plant in Japan.
Why is Toyota delaying its EV battery plant this time?
Earlier this year, Toyota bought a 280,000-square-meter plot of land in Fukuoka, Japan, where it planned to build a plant to produce the more advanced EV batteries.
A location agreement was expected to be signed by April, but Toyota pushed back construction by several months, blaming slower-than-expected demand for electric vehicles.
The agreement was expected to be finalized this Fall, but that will no longer be the case. According to Nikkei, Toyota is delaying the EV battery plant for the second time. Toyota will review and adjust plans over the next year.
