Toyota to build $1.29 billion EV battery plant in North Carolina

New Delhi:


yota Motor is all set to build a new $1.29 billion battery plant for electrified vehicles in North Carolina, announced the company on Monday afternoon.

The facility will be capable of producing enough lithium-ion batteries for 200,000 all-electric and plug-in hybrid electric vehicles, expects the company. The production is scheduled to begin in 2025. The company is planning to eventually expand battery production to up to 1.2 million vehicles per year.

‘The plant near Greensboro in central North Carolina is expected to create 1,750 jobs in the state,’ said Toyota. The investment in the facility is scheduled through 2031.

The Biden administration also has asked companies to bring more employment to the U.S. following an ongoing global shortage of semiconductor chips.

Toyota said that it selected North Carolina for the new plant based on “renewable energy availability as well as support from local stakeholders, including governments, utilities, partners, and others.”

“Today marks the beginning of a mutually beneficial partnership with the Tar Heel state as we embark on our journey to achieve carbon neutrality and provide mobility for all,” said Ted Ogawa, CEO of Toyota Motor North America, in a release.

The new plant to be powered completely by renewable energy to produce the batteries.

Toyota has shared its plan to reaching carbon neutrality for its vehicles and operations by 2050.


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