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Released October 09, 2023 | sugar land
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Researched by Industrial Info Resources (Sugar Land, Texas)--Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) and LG Energy Solution (Seoul, South Korea) have signed an agreement to supply Toyota with lithium-ion battery modules that will be used to assemble electric vehicles (EVs) at its new manufacturing facility in Kentucky, the companies announced last week. Industrial Info is tracking more than $6 billion worth of projects from Toyota in the U.S. as well as battery-manufacturing projects from LG.
Under the agreement, LG will supply 20 gigawatt-hours (Gwh) of nickel-cobalt-manganese-aluminum (NCMA) battery modules per year from the company's lithium-ion battery plant in Holland, Michigan, starting in 2025. The facility has a capacity for 5 GWh, and an ongoing $1.7 billion expansion is expected to quintuple the capacity to 25 GWh. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read more in a detailed project report. LG said it will invest about $3 billion in the facility to establish new production lines for battery cells and modules exclusively for Toyota.
For more information on LG's battery-manufacturing projects in the U.S. and its efforts to boost production, see September 11, 2023, article - LG Invests Billions to Grow U.S. Battery-Manufacturing Footprint.
Toyota will use the modules to produce EVs, including a new, unnamed model, at the operational Toyota Motor Manufacturing Kentucky (TMMK) assembly plant in Georgetown--where Industrial Info is tracking the construction of a related EV plant project. Toyota expects production to begin in 2025. Subscribers can click here for the detailed project report and here for a detailed plant profile.
Also at TMMK, Toyota is underway with a $460.8 million expansion that involves adding a new production line exclusively for the production of fuel-cell modules for heavy-duty trucks. Aristeo Construction Company (Livonia, Michigan) is performing general contracting services and expects to wrap up the project in first-quarter 2024. Click here to read more information.
According to the company website, TMMK is Toyota's largest manufacturing facility in the world, at more than 8 million square feet, and its first wholly-owned vehicle plant in the U.S. As many as 550,000 cars per year are produced there, including the Avalon, Avalon Hybrid, Camry, Camry Hybrid and Lexus ES 350 models.
Toyota's other project activity includes the two-phase construction of a EV battery-manufacturing plant in Liberty, North Carolina, to supply its hybrid and fully electric vehicles. The $1.29 billion first phase kicked off last year and involves installing four production lines, each with a capacity of 200,000 batteries, plus production equipment and systems to manufacture 800,000 lithium-ion battery packs per year with the ability to ramp up to 1.2 million. A proposed $2.5 billion expansion would ramp up production. Both projects are expected to wrap up by the end of 2025. Subscribers can read more information on the initial battery plant and expansion.
In other recent company news, Toyota's global auto component manufacturing subsidiary Toyota Boshoku announced last week it is investing $225 million to build a grassroot auto parts plant in Hopkinsville, Kentucky. According to a related press release, the so-called "smart plant" will produce seat frame mechanism parts such as seat tracks and seat recliners. Construction of the 300,000+-square-foot facility kicked off in June, and operations are expected to begin in 2025. Subscribers can read a detailed project report
Another ongoing Toyota project is the $222 million expansion of its car and truck engines plant in Huntsville, Alabama. The project entails constructing a 114,000-square-foot-building at the 1.3 million-square-foot facility and installing a new production line for both combustion and hybrid-electric four-cylinder engines. Construction is expected to wrap up in 2024. Click here for more information.
In May, the company said it had invested more than $8 billion in its U.S. manufacturing operations in the last two years, "primarily to support its product electrification efforts."
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Click here for a full list of active Toyota projects in the U.S.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Under the agreement, LG will supply 20 gigawatt-hours (Gwh) of nickel-cobalt-manganese-aluminum (NCMA) battery modules per year from the company's lithium-ion battery plant in Holland, Michigan, starting in 2025. The facility has a capacity for 5 GWh, and an ongoing $1.7 billion expansion is expected to quintuple the capacity to 25 GWh. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can read more in a detailed project report. LG said it will invest about $3 billion in the facility to establish new production lines for battery cells and modules exclusively for Toyota.
For more information on LG's battery-manufacturing projects in the U.S. and its efforts to boost production, see September 11, 2023, article - LG Invests Billions to Grow U.S. Battery-Manufacturing Footprint.
Toyota will use the modules to produce EVs, including a new, unnamed model, at the operational Toyota Motor Manufacturing Kentucky (TMMK) assembly plant in Georgetown--where Industrial Info is tracking the construction of a related EV plant project. Toyota expects production to begin in 2025. Subscribers can click here for the detailed project report and here for a detailed plant profile.
Also at TMMK, Toyota is underway with a $460.8 million expansion that involves adding a new production line exclusively for the production of fuel-cell modules for heavy-duty trucks. Aristeo Construction Company (Livonia, Michigan) is performing general contracting services and expects to wrap up the project in first-quarter 2024. Click here to read more information.
According to the company website, TMMK is Toyota's largest manufacturing facility in the world, at more than 8 million square feet, and its first wholly-owned vehicle plant in the U.S. As many as 550,000 cars per year are produced there, including the Avalon, Avalon Hybrid, Camry, Camry Hybrid and Lexus ES 350 models.
Toyota's other project activity includes the two-phase construction of a EV battery-manufacturing plant in Liberty, North Carolina, to supply its hybrid and fully electric vehicles. The $1.29 billion first phase kicked off last year and involves installing four production lines, each with a capacity of 200,000 batteries, plus production equipment and systems to manufacture 800,000 lithium-ion battery packs per year with the ability to ramp up to 1.2 million. A proposed $2.5 billion expansion would ramp up production. Both projects are expected to wrap up by the end of 2025. Subscribers can read more information on the initial battery plant and expansion.
In other recent company news, Toyota's global auto component manufacturing subsidiary Toyota Boshoku announced last week it is investing $225 million to build a grassroot auto parts plant in Hopkinsville, Kentucky. According to a related press release, the so-called "smart plant" will produce seat frame mechanism parts such as seat tracks and seat recliners. Construction of the 300,000+-square-foot facility kicked off in June, and operations are expected to begin in 2025. Subscribers can read a detailed project report
Another ongoing Toyota project is the $222 million expansion of its car and truck engines plant in Huntsville, Alabama. The project entails constructing a 114,000-square-foot-building at the 1.3 million-square-foot facility and installing a new production line for both combustion and hybrid-electric four-cylinder engines. Construction is expected to wrap up in 2024. Click here for more information.
In May, the company said it had invested more than $8 billion in its U.S. manufacturing operations in the last two years, "primarily to support its product electrification efforts."
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Click here for a full list of active Toyota projects in the U.S.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
