Toyota Announces new Investment of Nearly $8bn for US Battery Manufacturing Plant

Created by Kent Walker 2023-10-31 09:25:05

Toyota has announced a new investment of nearly $8 billion that will add approximately 3,000 jobs at Toyota Battery Manufacturing North Carolina (TBMNC). This brings total investment to approximately $13.9 billion and job creation to more than 5,000.

This investment adds capacity to support battery electric vehicles (BEV’s) and plug-in hybrid electric vehicles (PHEVs).

An additional eight BEV/PHEV battery production lines will be added to the two previously announced, for a total of ten BEV/PHEV battery lines.

In addition, the plant will also have four battery lines for Hybrid Electric Vehicles (HEVs).

Production will be increased in a phased approach, with line launches planned through 2030 to reach a total production of more than 30GWh annually.

Overall, the campus will boast seven million square feet, equating to 121 football fields of battery production.

Sean Suggs, president of Toyota North Carolina, says: “Today’s announcement reinforces Toyota’s commitment to electrification and carbon reduction, bringing jobs and future economic growth to the region. We are excited to see the continued energy and support of this innovative manufacturing facility.”

By 2025, Toyota plans to have an electrified option available for every Toyota and Lexus model globally.

HASHTAG: Sean Suggs Toyota Toyota North Carolina

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