Toyota has announced an additional investment of $2.5 billion in its newest Toyota Battery Manufacturing North Carolina (TBMNC).
An official statement from Toyota stated that the investment will be done to add capacity to support battery electric vehicle (BEV) battery production and adds 350 jobs, bringing the total employment to approximately 2,100.
Notably, scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles (HEV) and BEVs.
Norm Bafunno, Senior Vice President, Unit Manufacturing and Engineering, Toyota Motor North America, noted that the plant will serve a central role in Toyota’s leadership toward a fully electrified future and help the company meet its goal of carbon neutrality in its vehicles and global operations by 2035.
Last year, Toyota Motor Corporation announced a global investment of approximately $70 billion for electrification efforts. As part of this aspirational goal, TMC announced a future battery production commitment of up to $5.6 billion, which includes the new North Carolina investment, the release said.
In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production and creating 1,750 new jobs. Now with the recent announcement, TBMNC’s total investment is $3.8 billion, the release added.
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