According to Futu Securities, Toyota Motor (TM-US) plans to build an electric vehicle battery factory in Fukuoka Prefecture, Kyushu Island, Japan. The Japanese automaker hopes to position Kyushu Island as the center of its electric vehicle supply chain, as well as an export base for the Asia region. Toyota's goal is to sell 3.5 million electric vehicles globally annually by 2030.

It is reported that Kyushu Island, also known as Japan's Silicon Valley, is where suppliers of components such as semiconductors and image sensors for electric vehicles gather. The electric vehicle battery factory that Toyota plans to build is located about 40 kilometers from its Motomachi factory, which produces Lexus cars. Building the battery factory near the assembly plant is advantageous in reducing transportation costs for the battery. The expected investment amount for this planned electric vehicle battery factory by Toyota is not yet clear. It is reported that the Japanese government is expected to provide partial subsidies for the factory.