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Toyota more than doubles investment and job creation at North Carolina battery plant

October 31, 2023

RALEIGH, N.C. (AP) — Toyota will invest an additional $8 billion in the hybrid and electric vehicle battery factory it’s constructing in North Carolina, more than doubling its prior investments and expected number of new jobs, the company announced Tuesday.

The Japanese automotive manufacturer projects the new investment will create about 3,000 additional jobs, bringing the total to more than 5,000 jobs, when its first U.S. automotive battery plant begins operations near Greensboro in 2025. The plant will serve as Toyota’s epicenter of lithium-ion battery production in North America and will be a key supplier for the Kentucky-based plant tasked with building its first U.S.-made electric vehicles, the company said.

Toyota’s fourth and largest investment in the North Carolina facility brings its total investment to about $13.9 billion to help meet its goal of selling 1.5 million to 1.8 million electric or hybrid vehicles in the U.S. by 2030. It will also add eight new production lines for electric and plug-in hybrid batteries.

Read more from the Associated Press here.