The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a loan agreement amounting to USD193 million (JBIC portion) with Toyota Motor Corporation (Toyota). The loan is co-financed with Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., and Mizuho Bank, Ltd., bringing the total co-financing amount to approximately USD322 million.
The loan is intended to provide the necessary funds for Toyota Battery Manufacturing, North Carolina, a company established by Toyota’s US subsidiary Toyota Motor North America, Inc., to manufacture batteries for battery electric vehicles (BEVs).
As part of its sustainability promotion strategy toward the realization of carbon neutrality by 2050, Toyota has established the multi-pathway policy, which aims to introduce optimal powertrains, such as BEVs, according to the energy situation in each region. The loan will support Toyota's overseas business expansion and multi-pathway strategy, thereby contributing toward enhancing supply chain resilience and maintaining and improving the international competitiveness of the Japanese automobile industry.
As Japan's policy-based financial institution, JBIC will continue to provide financial support to help with efforts to enhance the supply chain resilience of Japanese industries and assist Japanese companies in the overseas expansion of their businesses.
