Automotive

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

By David Sickels
September 2, 2022

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.

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.

Michelin puts $300M into Canadian EV, sustainability endeavors

The investment will, in part, allow for the installation of new technologies needed for manufacturing EV tires.

By David Sickels
May 21, 2023

Michelin has announced a $300 million investment into its Canadian operations to accelerate sustainable mobility and improve its environmental footprint. The investment will see the installation of new technologies and equipment in Michelin's three Nova Scotia production facilities to respond to market evolution, including manufacturing tires for the growing electric vehicle (EV) segment; larger rim size tires for passenger and light truck vehicles; and improved fuel efficiency for commercial trucks. In addition, the electrification of key parts of the manufacturing process will reduce carbon emissions at the plants, the company says.