09:37 AM EDT, 07/26/2024 (MT Newswires) -- Toyota Motor Corp ( TM ) is planning to construct a battery plant for electric vehicles in Kyushu, Japan, Nikkei reported Friday.

The company is looking to make Kyushu, where many automotive and chip plants are based, a major part of its electric vehicle supply chain and as an export base to Asia, Nikkei reported.

Toyota ( TM ) did not immediately respond to a request for comment from MT Newswires.

Shares of Toyota ( TM ) were down more than 2% in recent early Friday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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