Toyota’s ($TM@Japan) North American division announced Monday it will invest $3.4 billion in the development of batteries for the U.S. market. The investment strategy will continue through 2030, and the firm plans to build a battery facility with Toyota Tsusho, its metals trading arm. The plan is included in a $13.5 billion global spending package that should cut the cost of batteries and battery cells by 30%. The company also said it “unreservedly signed up” to meet President Biden’s challenge of making half of all vehicles sold electric or zero-emission by 2030. Toyota stock rose nearly half a percent in early trading.