Toyota has charged up its North Carolina battery plant with a jolt of cash.
The automaker announced a new investment of nearly $8 billion that it said will add some 3,000 jobs at Toyota Battery Manufacturing North Carolina.
The addition boosts Toyota’s total investment to $13.9 billion, which is expected to create more than 5,000 jobs.
“Today’s announcement reinforces Toyota’s commitment to electrification and carbon reduction, and bringing jobs and future economic growth to the region,” Toyota North Carolina president Sean Suggs said. “We are excited to see the continued energy and support of this innovative manufacturing facility.”
The plant, scheduled to begin operations in 2025, will support battery electric vehicles and plug-in hybrids, and the new investment will add eight BEV/PHEV battery production lines to the two previously planned.
Toyota said production will be increased in a phased approach, with line launches planned through 2030, when production is expected to total more than 30GWh annually. The company said it plans to have an electrified option available for every Toyota and Lexus model globally by 2025.
Overall, the campus will cover 7 million square feet.
“Through the past few years of building relationships, including my most recent trip to Tokyo and meeting with [Toyota] president [Koji] Sato, our partnership with Toyota has become stronger than ever, culminating in this historic announcement,” North Carolina Gov. Roy Cooper said.
“North Carolina’s transition to a clean energy economy is bringing better-paying jobs that will support our families and communities for decades to come.”
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