In recent months, we have witnessed several announcements from manufacturers concerning investments in electrification in Ontario, but also in Quebec.
One of the brands that is present in the country, but which has remained discreet until now, is Toyota. The company did, however, have something to say about it, through its president, Frank Voss, who was speaking at the Canadian Auto Summit organized by the Automotive Parts Manufacturers’ Association, and which was held in Vaughan, Ontario, on June 11.
The Automotive News site reported the news.
“We are a very careful company and we take a long time to make decisions, but they are generally good decisions. »
Frank Voss acknowledged that Toyota is the only one of the five manufacturers assembling vehicles in Ontario today that has not announced plans for local production of electric vehicles or battery cells.
However, this is where it gets interesting, he emphasized that the right investment at the right time is very important. “When the time is right for us to invest in Ontario, we will be ready to do so. »
Of course, Frank Voss did not specify whether future investments would be in electric vehicle assembly or battery production, or both, but he pointed out that Toyota’s battery production plans in North America were inadequate to meet demand in the medium term.
Even taking a “conservative approach” with a 30% adoption rate for electric vehicles in North America in 2030, he said the company “will need more” capacity on the battery side. Toyota is already spending US$13.9 billion on a battery cell complex in North Carolina, which is expected to produce 30 GWh of cells per year by 2028.
In Ontario, Toyota employs some 8,500 workers at its Cambridge and Woodstock plants, where the Toyota RAV4, but also the Lexus NX, RX 350 and 500 h are assembled. In 2023 alone, 525,811 vehicles were manufactured there, according to the Automotive News Research and Data Center. Frank Voss said Toyota plans to build more than half a million vehicles at these two plants again in 2024.
Frank Voss clearly explained during the conference that Toyota had no doubt that the future was electric, but that the speed at which the transition should take place was uncertain. This is why the company is facing criticism regarding its slowness, compared to the commitment of other companies.
In Quebec and Ontario, more than 50 billion in investments have been promised over the past three years by various manufacturers. These investments, according to Frank Voss, demonstrate Ontario’s ability to meet demand.
Original content from auto123.
