Toyota invests $8 billion to expand battery manufacturing

Toyota invests $8 billion to expand battery manufacturing

With this new investment, Toyota plans for 10 new BEV/PHEV battery lines by 2030.

Toyota invested nearly $8 billion which will add approximately 3,000 jobs at Toyota Battery Manufacturing North Carolina (TBMNC). This brings total investment to approximately $13.9 billion and job creation to more than 5,000, Toyota said, further supporting Toyota’s multi-pathway approach to global vehicle electrification.

Toyota said this investment adds capacity to support battery electric vehicles (BEV’s) and plug-in hybrid electric vehicles (PHEV’s). An additional eight BEV/PHEV battery production lines will be added to the two previously announced, for a total of 10 BEV/PHEV battery lines. In addition, as originally announced, the plant will also have four battery lines for Hybrid Electric Vehicles (HEVs). Production will be increased in a phased approach, with line launches planned through 2030 to reach a total production of more than 30 GWh annually.

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 the creation of 1,750 new jobs. With this announcement, Toyota said its North Carolina location solidifies its position as the company’s epicenter of lithium-ion battery production in North America. Overall, the campus will boast seven million square feet, equating to 121 football fields of battery production.

Toyota said it has put more than 24.6 million hybrid, plug-in hybrid, fuel cell and battery electric vehicles on the road globally. By 2025, the company said it plans to have an electrified option available for every Toyota and Lexus model globally.

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