Business
Toyota To Build Billion Dollar Battery Plant In North Carolina Creating Almost 2,000 Jobs
Toyota announced plans on Monday to build a multi-billion dollar battery factory in North Carolina that is reported to create almost 2,000 jobs.
Toyota’s $1.29 billion battery plant, located near Greensboro, North Carolina, is expected to come online in 2025. The Toyota Battery Manufacturing, North Carolina (TBMNC) plant will have four production lines making enough lithium-ion batteries for 200,000 vehicles, according to a company press release.
“The future of mobility is electrification, and the Greensboro-Randolph Megasite is the ideal location to make that future a reality,” Ted Ogawa, chief executive of Toyota Motor North America, said in the press release.
“North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing Business,” Ogawa said.
North Carolina is one of few southern states without a major auto or electric vehicle manufacturing facility, The Wall Street Journal reported. Alabama, Georgia, Tennessee and Kentucky have all entered the industry.
“I’m glad that Toyota Battery Manufacturing has chosen to call North Carolina home,” Democratic North Carolina Gov. Roy Cooper said in the press release.
“This investment in our state is a testament to our world class workforce and growing economy. North Carolina is working hard every day toward a clean energy future and projects like this will help us get there,” Cooper said.
Toyota announced on Oct. 18 its intentions to invest roughly $3.4 billion in electric car battery factories across the U.S. by 2030. The company previously said it would invest $13.5 billion on a battery “development and production” plan.
Additionally, Toyota and Jeep parent company Stellantis announced a joint venture with LG Energy Solutions to develop U.S. battery facilities to create 40 gigawatt-hour producing facilities that will start running in 2024.
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