Toyota announced today an additional $8 billion investment in its battery plant under construction in North Carolina. This latest influx will result in the creation of 3,000 more jobs.
The Japanese auto giant says its total investment in the Randolph County plant near Greensboro will reach $13.9 billion. The total number of jobs expected to be created runs to 5,000. The company says it will add eight battery production lines, increasing the total from two to 10.
This marks the company's fourth investment in the project, and by far the largest chunk to date.
“Through the last few years of building relationships, including my most recent trip to Tokyo ... our partnership with Toyota has become stronger than ever, culminating in this historic announcement,” said Governor Roy Cooper. “North Carolina’s transition to a clean energy economy is bringing better paying jobs that will support our families and communities for decades to come.”
In December 2021, Toyota first announced its intention to build a major battery plant in North Carolina in December 2021. The facility is going up on a 1,800-acre site located about 20 miles southeast of Greensboro, near the city of Liberty. The initial promise was to create 1,750 jobs and invest $1.29 billion in the site.
Sean Suggs, President of Toyota North Carolina Plant, stated that this announcement “strengthens Toyota's commitment to electrification and reducing carbon emissions,” while keeping its promise to bring economic growth to North Carolina. Toyota is committed to using 100-percent renewable energy to produce batteries at its North Carolina plant.
The plant will manufacture three types of lithium-ion batteries for hybrid, plug-in hybrid and all-electric vehicles. It will be the epicenter of Toyota's lithium-ion battery production in North America and a key supplier to the Kentucky plant responsible for building the automaker’s first U.S.-made electric vehicles. It is expected to be operational by 2025.