Global automaker Toyota today announced an investment of nearly $8 billion in a North Carolina battery factory, saying the move supports its multi-pathway approach to global vehicle electrification.
The new backing will add approximately 3,000 jobs at the 1,825-acre Toyota Battery Manufacturing North Carolina (TBMNC) manufacturing complex and bring total investment there to approximately $13.9 billion and job creation to more than 5,000.
This investment adds capacity to support battery electric vehicles (BEV’s) and plug-in hybrid electric vehicles (PHEV’s). An additional eight BEV/PHEV battery production lines will be added to the two previously announced, for a total of ten BEV/PHEV battery lines. In addition, as originally announced, the plant will also have four battery lines for Hybrid Electric Vehicles (HEVs). Production will be increased in a phased approach, with line launches planned through 2030 to reach a total production of more than 30GWh annually.
Toyota’s investment in the seven million square foot plant in Liberty, North Carolina, began when it opened the site in 2021 with backing of $1.29 billion. With today’s announcement, Toyota North Carolina solidifies its position as the company’s epicenter of lithium-ion battery production in North America.
To date, Toyota has put more than 24.6 million hybrid, plug-in hybrid, fuel cell, and battery electric vehicles on the road globally. By 2025, the company plans to have an electrified option available for every Toyota and Lexus model globally.
“Today’s announcement reinforces Toyota’s commitment to electrification and carbon reduction, bringing jobs and future economic growth to the region,” Sean Suggs, president of Toyota North Carolina, said in a release. “We are excited to see the continued energy and support of this innovative manufacturing facility.”