Toyota to invest $1.3B in Kentucky factory to build battery packs and new EV

Post by fragmede » Wed, Feb 07, 2024, 5:58 PM UTC

gergi137 wrote: post #105

itsoktocry wrote: post #89

Earlier quoted context omitted.

>not sure how you got that conclusion. The OP drew a direct comparison from what Tesla spent on a plant, to what Toyota is spending on a factory. How can you draw a different conclusion? What makes Tesla "right" and Toyota "wrong"? > They are saying for a car company they are (1) way behind and (2) any investments they are making won't reach fruition for years, nor likely make a dent in the industry. Way behind what?…

Nope, the Model Y was the best selling vehicle in 2023, regardless of powertrain. https://insideevs.com/news/706169/tesla-model-y-best-selling...

Post by carabiner » Wed, Feb 07, 2024, 6:01 PM UTC

brandonagr2 wrote: post #27

itsoktocry wrote: post #23

Earlier quoted context omitted.

> For context: Tesla is guiding for $10+B a year capex spending for the next 3 years. I know people around these parts think that Tesla has uncovered some magical factory building ability, but can you even consider the fact that maybe Toyota knows what they are doing? > Toyota is still under-investing in EV. $1.3B is nothing. This is one factory.

What about Toyota's plans makes you think they will ever catch up to everyone else with EVs?

Post by [deleted] » Wed, Feb 07, 2024, 6:02 PM UTC

xyst wrote: post #17

On the bright side, some manufacturing jobs brought state side. On the other hand, it’s in KY. These multibillion dollar deals tend to land in states with the lowest cost of living, non-educated workforce, minimal enforcement/respect of environment (dump waste into rivers), and tend to be subsidized at the state and local levels. Apple opened up shop outside of Austin (ie, not Travis County) because of lower taxes an…

Post by _ea1k » Wed, Feb 07, 2024, 6:05 PM UTC

enragedcacti wrote: post #94

_ea1k wrote: post #64

Earlier quoted context omitted.

In the US, some PHEVs with relatively small batteries can qualify for the full $7,500 tax credit. You might be on to something there. It would certainly explain the size of the investment. A $1.3B plant might not build a lot of EVs, but it could build quite a few PHEVs.

Specifically it's 7kWh minimum in addition to all of the other sourcing and assembly requirements. In practice there haven't been any PHEVs with less, the smallest PHEV battery so far in the US is 8kWh in a Ferrari. It'll be interesting to see if more small battery PHEVs come out trying to target HEV price points with the tax credit. It would still be a huge jump up from standard hybrids which as far as I'm aware are…

Post by apapapa » Wed, Feb 07, 2024, 6:16 PM UTC

kjksf wrote: post #7

$1.3B seems like a lot of money but it isn't for a car factory, especially spread over many years. For context: Tesla is guiding for $10+B a year capex spending for the next 3 years. Nevada factory took $6.2B and Tesla plans to spend additional $3.6B Toyota is still under-investing in EV. $1.3B is nothing. https://www.tesla.com/blog/continuing-our-investment-nevada