Toyota invests an additional $8 billion into battery manufacturing plant in North Carolina
Nov. 3, 2023
The investment will be used to add eight additional battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) production lines.
Toyota has announced plans to invest an additional $8 billion into the Toyota Battery Manufacturing North Carolina (TBMNC) facility. This added funding brings the total investment to about $13.9 billion and will generate an additional 3,000 jobs, bringing the total number of new jobs to 5,000. The company says that the investment will be used to add eight additional battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) production lines on top of the two previously announced lines. The facility will also feature four battery lines for hybrid electric vehicles (HEVs). Toyota has clarified that production at the plant will be increased in phases, and the facility is expected to have a total production of more than 30GWh annually.
In a recent quote, Sean Suggs, president of Toyota North Carolina, 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.”
Investing in American Manufacturing - 2023
This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.
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