Toyota postpones plans for electric vehicle battery plant in Fukuoka, Japan

Toyota Motor has decided to postpone its plan to build an electric vehicle battery plant in Fukuoka Prefecture, Japan, due to lower-than-expected global demand for electric vehicles and rising costs. Toyota President Tsuneharu Sato will visit the governor of Fukuoka Prefecture in the near future to formally inform the Fukuoka Prefecture government of the decision. Previously, Toyota announced a plan to increase global production and sales of pure electric vehicles to 1.5 million units by 2026, but has now adjusted it to 1 million units, a 30% reduction from the original plan.