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Toyota, Stellantis to Build EV-Battery Factories in the U.S.

Toyota Motor Corp. and Jeep parent Stellantis NV said separately Monday they would build battery factories in the U.S., the latest in a string of big-ticket investments by auto makers looking to sell more electric cars.

Stricter fuel-efficiency targets set by the Biden administration, combined with broader efforts around the globe, are pushing car companies to spend tens of billions of dollars collectively on new factories for electric vehicles and the batteries to power them.

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