Market Chatter: Toyota Motor to Delay Battery Plant in Japan Amid Waning EV Demand-February 2024-www.financetom.com

Market Chatter: Toyota Motor to Delay Battery Plant in Japan Amid Waning EV Demand

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Market Chatter: Toyota Motor to Delay Battery Plant in Japan Amid Waning EV Demand

Mar 25, 2025 9:51 AM

12:18 PM EDT, 03/25/2025 (MT Newswires) -- Toyota Motor ( TM ) likely will delay the construction of a battery plant in Japan amid a slowdown in the global demand for electric vehicles, Nikkei Asia reported Tuesday.

The company will eventually construct the plant, but will revisit the list of products to be manufactured at the site, according to the report.

Fukuoka Governor Seitaro Hattori reportedly said that he expects to sign a location agreement with Toyota ( TM ) by this fall, instead of April. It is not certain if this delay will impact the planned start of operations in 2028.

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

(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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