James Gent

James Gent

August 31, 2022 11:58 pm


Toyota will invest a further US$2.5 billion into its manufacturing plant in North Carolina to increase EV and hybrid production.

The Japanese marque, in partnership with its sales network and trading sub-division ‘Toyota Tusho’, announced last year that US$1.29 billion (around $1.69 billion) would be invested into its North Carolina plant – located in Liberty – as a means of increasing battery production for its North American market, further stating that the facility would create up to 1,750 new jobs.

Toyota Battery Manufacturing North Carolina

Toyota Battery Manufacturing North Carolina

Today’s announcement means Toyota’s investment specifically into the Liberty plant has now tripled to US$3.8 billion (just under $5 billion), with a further 350 jobs also set to be introduced. The US$2.5 billion payment ( around $3.2 billion) is part of US$5.6 billion (around $7.35 billion) worth of funding Toyota is putting into future battery production commitment, all part of the brand’s global drive towards “a fully electrified future” and carbon-neutrality across their vehicles and global operations by 2035.

“This is an exciting time for Toyota, the region and the many North Carolinians we will soon employ,” explains North Carolina plant president, Sean Suggs. “This incremental investment reflects our continued commitment to ensuring jobs and future economic growth for the Triad region.”

Production at the Liberty plant is set to begin in 2025, with a combination of fully-electric and hybrid models set to roll off the assembly line.

Top Stories
Build the Unexpected.

Build the Unexpected.

Aliquam tempus, eros ultricies varius tincidunt, mauris quam congue sapien, tincidunt ullamcorper nibh augue in neque. Aliquam tempus, eros ultricies varius tincidunt, mauris quam congue sapien, tincidunt ullamcorper nibh augue in neque. Aliquam tempus, eros ultricies varius tincidunt, mauris quam congue sapien, tincidunt ullamcorper nibh augue in neque. Aliquam tempus, eros ultricies varius tincidunt, mauris quam congue sapien, tincidunt ullamcorper nibh augue in neque.

Featured in this story

2021 Mustang Mach-E

Starting at $50,495

2021 Mustang Mach-E BUILD & PRICE

Distance Driven: 2,412 km

Times charged: 6

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse a arcu et tellus iaculis laoreet. Nam eu tortor vitae nunc tempus llamcorper ac vel ipsum. Nulla accumsan nunc sem.

Read More News