Toyota Invests $10 Billion in the US and Opens New Battery Plant
Toyota has announced plans to invest an additional $10 billion in the United States over the next five years, bringing their total U.S. investment to nearly $60 billion. The company has also begun production at their new battery plant in North Carolina, which will support their upcoming three-row EV.
The new battery plant, Toyota Battery Manufacturing North Carolina, is the company’s eleventh manufacturing facility in America and Toyota’s only battery plant outside of Japan. The $13.9 billion plant is expected to generate up to 5,100 jobs and be capable of producing 30 GWh of battery capacity annually.
Key Highlights of Toyota’s Investment
- Toyota is investing $10 billion in the United States over the next five years.
- The company has begun production at their new battery plant in North Carolina.
- The facility will build batteries for hybrids, plug-in hybrids, and EVs.
The new battery plant will supply batteries for several Toyota models, including the Camry Hybrid, Corolla Cross Hybrid, and RAV4 Hybrid, as well as the company’s upcoming three-row EV. The plant has 14 battery production lines that support not only electric vehicles but also hybrids and plug-in hybrids.
A “Pivotal Moment” for Toyota
Toyota Motor North America CEO Tetsuo Ogawa said, “Today’s launch of Toyota’s first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company’s history. Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers.”
The new facility will not only be a workplace but also house a pharmacy, a medical clinic, a fitness center, and on-site childcare once construction is complete. Toyota plans to open additional assembly lines by 2030.
Background
The investment comes amid tariffs and pressure from the Trump administration to build more vehicles in the United States. The White House recently announced that Toyota plans to export its U.S.-made vehicles to Japan and open its distribution platform in Japan to U.S. automakers. Japan will also allow sales of American-made vehicles and “U.S. safety-certified vehicles” without additional testing.
