Toyota Doubles Investment in North Carolina EV Battery Plant to $13.9 Billion and Adds 3000 Jobs

The expanded investment boosts Toyota's commitment to electric vehicles, with the North Carolina facility set to become the center for lithium-ion battery production in America. With a total of 10 battery manufacturing lines expected by 2030, the plant aims to promote a clean energy economy and reduce carbon emissions through the production of hybrid and electric vehicle batteries using 100% renewable energy.

Toyota is doubling its investment in a North Carolina battery production plant to $13.9 billion, expecting growth in the US electric and hybrid vehicle markets.
The major expansion goes beyond financial input, also boosting employment by adding 3000 jobs and increasing production with 8 additional battery manufacturing lines.
The North Carolina manufacturing facility, currently under construction, will be Toyota's primary hub for electric car battery production in America, with production commencing in 2025.
The raised capital signifies Toyota's ongoing commitment to carbon-reduction by investing in renewable power for battery production at the North Carolina location.
Toyota possesses a 90% stake in the facility, anticipating the production of several models, inclusive of a new three-row, all-electric SUV to be manufactured at Toyota's Kentucky assembly factory starting 2025.