"We wouldn't have enough for it to be only public. It requires a lot of investment," Lopez Obrador said at a news conference.

When the additional facilities come on line between 2024 and 2026, Toyota's battery production capacity in the two countries will have increased by 40 gigawatt-hours.

A specialist panel tasked with formulating battery strategy also set a target of securing 30,000 trained workers for battery manufacturing and supply chains by 2030.

The newly approved plan will cost the company $52 million in investments and measures taken to address six environmental infractions detected by Chile's regulator.

Freyr is building its first lithium-ion battery factory in the far north of Norway and has announced plans for production in Finland and the US.

The company estimates it will take three years to permit and build the graphite manufacturing facility and on average, the plant would produce about 49,615 tonnes of anode material per year.