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    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

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    Zimbabwe cuts world’s highest interest rate as inflation eases

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    Convergence Partners raises $296 million to drive digital inclusion across Africa

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    Shell oil tanker questioned over payment of losses and damages

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    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Richest African man building fourth cement plant in Nigeria

    Richest African man building fourth cement plant in Nigeria

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

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    Port of Maputo achieves new handling record, sees soaring chrome throughput

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    Digital banking revolution can help SA banks regain their customers’ love, says BCG

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    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

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    There was a 25% increase in finance app installs across Africa between 2021 and 2022

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    Government starts payment of $674,5M matured securities

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    South African rand steady with investor focus on Fed minutes

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    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

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TOYOTA TO INVEST $3.4 BN INTO AUTOMOTIVE BATTERIES PRODUCTION IN US

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25/10/2021
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Toyota is a pioneer of hybrid vehicles and autos using hydrogen fuel and is also stepping up its development of battery-powered electric cars.

Toyota is a pioneer of hybrid vehicles and autos using hydrogen fuel and is also stepping up its development of battery-powered electric cars.

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TOYOTA TO INVEST $3.4 BN INTO AUTOMOTIVE BATTERIES PRODUCTION IN US

The company did not specify further details such as a site and production capacity but said it would establish a new company for the US project.

Toyota is a pioneer of hybrid vehicles and autos using hydrogen fuel and is also stepping up its development of battery-powered electric cars.
Toyota is a pioneer of hybrid vehicles and autos using hydrogen fuel and is also stepping up its development of battery-powered electric cars.

The world’s biggest carmaker Toyota unveiled plans on Monday to invest $3.4 billion into automotive batteries in the United States and build a factory in the country for their production.

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The 10-year investment is part of a project announced last month by the Japanese firm to pour 1.5 trillion yen ($13.1 billion) into the development and supply of batteries for electric vehicles as it pushes to make its production carbon-neutral.

“Toyota’s commitment to electrification is about achieving long-term sustainability for the environment, American jobs and consumers,” said Ted Ogawa, chief executive officer at Toyota Motor North America.

The company did not specify further details such as a site and production capacity but said it would establish a new company for the US project.

In June, Toyota said it aimed to make its production carbon-neutral by 2035, replacing the previous target date of 2050.

Toyota is a pioneer of hybrid vehicles and autos using hydrogen fuel and is also stepping up its development of battery-powered electric cars.

Last year Japan’s former prime minister Yoshihide Suga set a 2050 deadline for the world’s third-largest economy to become carbon neutral, significantly firming up the country’s climate-change commitments.

The nation has struggled to cut carbon emissions after shutting down reactors following the 2011 meltdown at the Fukushima nuclear power plant.

EWN

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