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Toyota to invest $13.6bn in batteries for EVs and hybrids by 2030

Japan automaker likely to invest in China and US as it nurtures eco-friendliness

A Toyota BZ4X concept electric vehicle: Known as a hybrid car pioneer, the Japanese auto giant is focusing more on EVs.   © Reuters

TOKYO -- Toyota Motor will invest 1.5 trillion yen ($13.6 billion) in batteries used for electric and hybrid vehicles by 2030, the company said on Tuesday, without disclosing any plans or locations for new factories.

Investments, however, are likely to be made in the automaker's major markets, including China and the U.S. In Japan, the company is planning to expand production through a joint venture with Panasonic.

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