Toyota has revealed its plan to invest an additional $8bn in its electric vehicle (EV) battery plant in North Carolina, dubbed Toyota Battery Manufacturing North Carolina (TBMNC).
The automotive manufacturing company’s new move will bring the total investment in the EV battery manufacturing plant to $13.9bn.
According to Toyota, the additional funding will add capacity to support battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
The company aims to add eight BEV/PHEV battery production lines at the TBMNC to the previously announced two lines. It will make a total of ten battery lines at the North Carolina facility.
Production at the North Carolina EV battery plant is estimated to ramp up in a phased approach, with line launches planned through 2030 to reach a total production of over 30GWh per year.
Toyota’s additional investment in the TBMNC will generate 3,000, bringing the total job creation to more than 5,000.
The North Carolina EV battery manufacturing facility is scheduled to come online in 2025.
North Carolina Governor Roy Cooper said: “Through the last few years of building relationships, including my most recent trip to Tokyo and meeting with President Sato, our partnership with Toyota has become stronger than ever, culminating in this historic announcement.
“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.”
Toyota, in partnership with Toyota Tsusho, announced the new Liberty location for EV battery production with an initial investment of $1.29bn in 2021.
The company aims to have an electrified option available for every Toyota and Lexus model across the world by 2025.
Toyota North Carolina president Sean Suggs said: “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.”
