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

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

#31

Post by brandonagr2 »

dumbo-octopus wrote: post #24
jgalt212 wrote: post #16

Earlier quoted context omitted.

It feels "right-sized" given Toyota's approach towards EV's and the slowing adoption rate of EVs in the US.

Toyota initiated the hybrid as a modern platform, and they continue make the best selling hybrid in the world (Prius). But since they don't want to be in the business of making undesirable vehicles with short lifespans that require expensive maintenance, they have stuck to hybrids rather than full electric and all the extremely costly low lifespan batteries that go into them. Speaking as a 2004 Prius daily driver, th…

You aren't more environmentally friendly, in less than 2 years an EV is net positive

https://www.tesla.com/impact (see page 22)

And that's not even mentioning that in 20 years we won't be mining materials out of the ground anymore, will just be recycling existing battery materials

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

#33

Post by Retric »

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?

They don’t need to innovate just execute and Toyota is all about execution. Build a car people want and let sales drive future investments.

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

#34

Post by 2devnull »

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…

Agree that often politicians sell out their people and natural resources (the rights and endowment of future citizens) for short term gain. This is a natural consequence of politicians being inherently terrible people by and large.

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

#35

Post by thinkingtoilet »

jonnycomputer wrote: post #22

More Biden policy winning back investment in America, is my take. Update: People who may not have been following closely what Biden has accomplished during his Presidency might have questions. In this case, the Inflation Reduction Act specifically has credits to encourage battery manufacture in the US. https://www.orrick.com/en/Insights/2022/11/Section-45X-of-th ... More generally, the IRA and the Infrastructure Inve…

I'm left of Bernie and voted for Biden but I tend to not like takes like this. Is there a specific policy that he championed that is responsible for this? To me, it's like when people cheer a 'record stock market' as an example of a president's abilities, but fail to mention every single modern president has had a record stock market at some point in their term.

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

#36

Post by bhpm »

xyst wrote: post #19
psychlops wrote: post #2

How much does Toyota pay in taxes in Kentucky or are we subsidizing the factory?

Let’s be honest. Southern state probably lured them in with a nice package. Toyota has been moving ops to states with lower cost of living for awhile now. Toyota corp in USA shifted ops from CA to TX a decade back. Many workers hate or regret the move. C-level executives are excited because they pay less in state taxes. Probably even got a nice deal on the land.

Toyota broke ground in San Antonio more than two decades ago, in 2003, not one. Georgetown KY has been around since 1986 and Princeton IN since 1996. Toyota has been investing in “low cost of living” states for a very long time.

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

#37

Post by jonnycomputer »

thinkingtoilet wrote: post #35
jonnycomputer wrote: post #22

More Biden policy winning back investment in America, is my take. Update: People who may not have been following closely what Biden has accomplished during his Presidency might have questions. In this case, the Inflation Reduction Act specifically has credits to encourage battery manufacture in the US. https://www.orrick.com/en/Insights/2022/11/Section-45X-of-th ... More generally, the IRA and the Infrastructure Inve…

I'm left of Bernie and voted for Biden but I tend to not like takes like this. Is there a specific policy that he championed that is responsible for this? To me, it's like when people cheer a 'record stock market' as an example of a president's abilities, but fail to mention every single modern president has had a record stock market at some point in their term.

Yeah, the Inflation Reduction Act.

https://www.orrick.com/en/Insights/2022/11/Section-45X-of-th...

More generally, the IRA and the Infrastructure Investment and Jobs Act

https://en.wikipedia.org/wiki/Infrastructure_Investment_and_...

https://www2.deloitte.com/us/en/insights/industry/manufactur...

There's also the CHIPS act.

By the way, anyone active in the green tech space knows that the IRA has been an absolute game-changer.

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

#38

Post by the_third_wave »

An interesting contrast showed up in my RSS feed regarding this subject:

First this HN post: Toyota to invest $1.3B in Kentucky factory to build battery packs and new EV

A few lines below that: Toyota Refused To Hop On The Electric Vehicle Bandwagon, And It Paid Off Big Time [1]

We'll see where the chips fall but thus far it seems Tesla is one of the few western companies which manages to profitably produce and sell consumer EVs. I suspect Chinese companies like BYD run at a profit as well but it is hard to get access to reliable data. Volkswagen seems to be aiming for 'profit parity for EVs' in 2025 but they seem to have a long way to go [2].

[1] https://dailycaller.com/2024/02/07/toyota-2023-fiscal-year-3...

[2] https://www.reuters.com/business/autos-transportation/volksw...

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

#39

Post by TheCleric »

Retric wrote: post #33
brandonagr2 wrote: post #27

Earlier quoted context omitted.

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

They don’t need to innovate just execute and Toyota is all about execution. Build a car people want and let sales drive future investments.

Yeah I wouldn’t bet against Toyota in a game of catch up. They’ve proven over and over that their real strength is in doing what other companies have proven out and doing it better and more efficiently.
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