Toyota’s recent announcement of plans to build a $1.3 billion electric vehicle battery plant with 1,750 jobs has the attention of states like Indiana. The announcement follows similar moves by General Motors and Ford and Energy Systems Network Chief Executive Officer Paul Mitchell says Indiana is well-positioned to benefit.
“Today we have the Battery Innovation Center that is working with hundreds of companies around the world to accelerate innovation in the battery space, as well as our research institutions, Purdue, Notre Dame and others,” said Mitchell. “And we have a tremendous workforce that knows how to build advanced electronics.
Mitchell talked about Indiana’s opportunity for EV investment and jobs on this weekend’s edition of Inside INdiana Business with Gerry Dick.
Multiple reports have suggested that Toyota is interested in locating the battery plant near its final assembly plants. The company’s massive assembly plant in Princeton is in the midst of an $800 million expansion that will allow it to make “electrified” Toyota and Lexus models. It is also adding more than 1,400 jobs as a result of the investment.
But Mitchell notes Toyota will not be Indiana’s only bite at the apple when it comes to cashing in on battery innovation investment and jobs.
“The EV industry is surging,” said Mitchell. “Just in the U.S. alone, demand was up 200 percent in the second quarter of this year, so automakers, including Toyota, realize they’ve got to start building batteries to keep up with this demand,” but he adds the battery market extends far beyond the automotive sector into areas like grid storage and IoT devices.