Toyota is investing an additional $8 billion in its first North American electric vehicle battery manufacturing facility, announced the Economic Development Partnership of North Carolina, adding another 3,000 jobs.
The project, dubbed “Toyota Battery Manufacturing North Carolina” was first announced as a $1.29 billion investment in 2021, with expansions in 2022 and 2023. The project will create over 5,000 jobs and is expected to be completed in 2025.
Toyota's Green Battery Plant in North Carolina Powers Up Electrification Drive
Situated on a 1,825-acre in Liberty, North Carolina, Toyota is set to produce batteries for both hybrid electric vehicles and battery electric vehicles, using 100% renewable energy sources.
This facility plays a pivotal role in Toyota's global electrification initiatives, as the company aims to introduce 30 BEV models worldwide by 2030.
North Carolina has witnessed a remarkable surge in electric vehicle investment, partly due to policies such as the Inflation Reduction Act.
Over the past year, the North Carolina has risen to become one of the top four states in electric vehicle investment, attracting over $10 billion in funding.