06-24-2010, 09:59 AM
Japanese electronics giant, Toshiba, has announced that it will be taking its production outside of its home market for the first time in company history. The plan brings Toshiba to the U.S. in order to produce drive motors for Ford’s hybrid vehicles.
Toshiba is known as a major player in the electric/hybrid market already, as it produces lithium-ion batteries used in electric and hybrid vehicles. Toshiba says that it hopes to use the transition to the U.S. as a key step in grabbing a major chunk of what is expected to be an $11 billion-a-year market by 2020 for drive motors, according to Reuters.
Toshiba says it will spend approximately $44 million at an existing production facility that is located in Houston, Texas, which is expected to go live in 2012 and have a monthly capacity of 100,000 units.
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