- This move would bring its overall investment in the EV battery plant to roughly $13 billion and expand job opportunities to surpass 5,000.
- Toyota’s North Carolina facility will begin operations in 2025.
Toyota Motor has announced that it will make an additional $8 billion investment alongside creating approximately 3,000 new jobs at its North Carolina electric vehicle (EV) battery production facility. The investment amplifies the Japanese automaker’s efforts to transition its range to electric power. With goals to offer electrified choices for its models by 2025, the company said that this move would bring its overall investment in the plant to roughly $13 billion and expand job opportunities to surpass 5,000.
Among the traditional OEMs, Ford Motor and General Motors have been engaged in an intense race to ramp up their electric vehicle production. With this, the firms aim to narrow the gap between themselves and the leading market player, Tesla. Toyota’s North Carolina facility, scheduled to begin operations in 2025, will mark the company’s inaugural venture into automotive battery production on a global scale.
Anticipated to feature a total of six battery production lines, the plant will accommodate four lines dedicated to supporting hybrid vehicles, including models such as the Prius, and an additional two lines dedicated to bolstering battery electric vehicles.