Toyota has announced an additional investment of nearly $8 billion in Toyota Battery Manufacturing North Carolina (TBMNC). This move will create approximately 3,000 new jobs at the said location, raising the total investment to around $13.9 billion and overall job creation to more than 5,000 positions.
Why It Matters
The fresh investment underscores Toyota’s commitment to global vehicle electrification and expands the company’s capacity to support battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). This will solidify North Carolina’s role as Toyota’s hub for lithium-ion battery production in North America.
Key Points
- This investment will lead to the addition of eight BEV/PHEV battery production lines, complementing the two previously announced, summing up to ten battery lines.
- A phased production increment is on the horizon, with launches set through 2030 aiming for a total annual output surpassing 30GWh.
- Back in 2021, Toyota, alongside Toyota Tsusho, had committed $1.29 billion to inaugurate the new Liberty facility for battery production and 1,750 job positions.
- The expanded North Carolina campus will span seven million square feet, equating to a staggering 121 football fields dedicated to battery production.
- Toyota’s overarching electrification vision has resulted in over 24.6 million diverse electrified vehicles on global roads. By 2025, every Toyota and Lexus model worldwide will feature an electrified variant.
- As part of its community initiative, Toyota pledged donations amounting to $200,000 in 2022 to local nonprofit organizations and educational projects in North Carolina.
Bottom Line
Toyota’s amplified investment in North Carolina reinforces its pledge to electrification, carbon footprint reduction, and robust economic growth in the region. With a thriving partnership between Toyota and the state, North Carolina is emerging as a pivotal player in the clean energy transition, promising sustainable job opportunities and business expansion.
