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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Automotive

Kia’s electrified model sales grew 9% compared to March 2023

The company also delivered its second-highest first-quarter sales total in company history, capped by March sales of 69,472 units.

Christian Hinton
By Christian Hinton
Published:
kia_EV9_2024

Kia America revealed that sales of electrified models in March grew 9% compared to the previous year. Specifically, EVs saw a significant increase of 151%. The company also delivered its second-highest first-quarter sales total in company history, capped by March sales of 69,472 units. Sales of the entire utility lineup increased by 9%, compared to the previous year and accounted for 79% of total sales.

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