Toyota invests $2.5B in North Carolina plant, BEV battery capacity

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Toyota invests $2.5B in North Carolina plant, BEV battery capacity

David Sickels
By David Sickels
David Sickels is the Editor of The Buzz. He has a history of working in the media, marketing and automotive industries in both print and online.
Published:
Toyota-North-Carolina-Plant-Expansion-1400

Toyota has announced an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina (TBMNC). This investment adds capacity to support battery electric vehicle (BEV) battery production. Scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles (HEV) and BEVs.

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Last year, Toyota Motor Corporation announced a global investment of approximately $70 billion for electrification efforts. In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production. With this announcement, TBMNC’s total investment is $3.8 billion.

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GMC ups range estimate of 2024 Sierra EV Denali before launch

The 2024 Sierra EV Denali Edition 1 will come standard with a GM-estimated 440 miles of range for the 2024 model year.

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By Christian Hinton
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GMC said its 2024 Sierra EV Denali Edition 1 will come standard with a GM-estimated 440 miles of range for the 2024 model year, a 10% increase from the originally estimated range of 400 miles. The Sierra EV Denali Edition 1 will also launch with a GM-estimated 10,000 pounds of max towing and 1,450 pounds of max payload, an increase of 500 pounds and 150 pounds respectively from initial estimates, according to GMC.

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