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.