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Toyota Motor Corp. plans to spend ¥1.5 trillion ($13.7 billion) on the development and supply of batteries for hybrid and electric vehicles by 2030, joining other global automakers in boosting investments in anticipation of greater demand.

The world’s No. 1 automaker will commit roughly ¥1 trillion for production lines, Toyota executives announced at an online briefing Tuesday. It will also seek to set up 70 EV battery lines by 2030 and is aiming to secure 200 gWh of battery supply by then, up from its previous goal of 180 gWh.

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