Sat. Jan 29th, 2022

Toyota will build a new $1.29 billion automotive battery manufacturing plant for electrified vehicles in North Carolina, the company announced Monday afternoon. The battery manufacturing plant, to be named Toyota Battery Manufacturing, is set to open in 2025 at the North Carolina Greensboro-Randolph “Megasite,” the company said in a statement. Toyota expects the facility to have four production lines, each capable of producing enough lithium-ion batteries for 200,000 all-electric and plug-in hybrid electric vehicles, when production begins. Toyota hopes to later expand this to at least six production lines to create a combined total of up to 1.2 million vehicles per year. The new plant is expected to create 1,750 jobs in the state and will be the first to produce automotive batteries for Toyota in North America, Toyota said. The investment in the facility, which includes funds to develop land and facilities, is being made by Toyota and Toyota Tsusho and is scheduled through …

Author: Katabella Roberts

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