An automotive parts industry giant, Mobis has decided to open an electric vehicle battery plant on 60 acres of vacant, unproductive land at the old Northtown mall.
Earlier in 2021, city officials announced the building of manufacturing industries in the Northtown Mall area and stated that these industries would boost employment opportunities in Ohio.
Mobis decision is an initiative towards the plan, as Toledo’s Mayor Wade Kapzukiewicz said. “I think the big things are coming, and sooner we will announce job-creating economic potential to feed the auto industry.”
This project still needs clearance as Ohio’s tax authority will put their heads together on Monday.
Toledo’s EV Plant Benefits
Toledo is the fourth most populated city with a 606240 population and the 79th in the United States. Toledo’s EV Battery plant will provide many employment opportunities in the city and boost the state’s economy.
Toledo will become the electric vehicle auto parts hub, and it can also provide many business opportunities.
Moreover, this industry will be environment friendly as it will not affect the climate. Toledo’s EV battery plant can also diminish the cost of battery for electric car.
Cost of Battery for Electric Car
Goldman Sachs predicts that by 2025, the cost of electric batteries will be reduced by up to 40%. Toledo’s EV battery plant is a big step towards reducing the cost of batteries for electric vehicles/cars. He said the battery cost would turn down to $ 99 per kilowatt hour of storage capacity. In short, electric vehicles will be more efficient and more economical.
How long does an Electric Car Battery Last
The electric vehicle battery can last up to 20 years or 200000 miles, and a Tesla Model 3 battery size of 60.0 kWh could last 1500 cycles and up to 500000 miles.
Solid State Battery EV
Solid-state electric vehicle batteries have more energy density than current lithium-ion batteries. These solid-state batteries will be small, efficient, and charge faster.
The battery manufacturing companies considering to start solid-state battery manufacturing by 2028.