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

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

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.

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