Toyota to set up S1.29 bn EV battery plant in North Carolina
Will go on stream in 2025; six production lines to produce battery packs for 1.2 million electrified vehicles per year
Toyota Motor North America has announced that North Carolina Greensboro-Randolph Megasite has been chosen as the location for Toyota's new $1.29 billion (Rs 9,547 crore) automotive battery manufacturing plant, to be named, Toyota Battery Manufacturing, North Carolina (TBMNC).
When it goes on stream in 2025, TBMNC will have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles―with the intention to expand to at least six production lines for a combined total of up to 1.2 million vehicles per year.
The $1.29 billion investment, including funds to develop land and facilities, made by Toyota and Toyota Tsusho will be partially funded from a total investment of approximately $3.4 billion previously announced on October 18, which did not include funds for developing land and facilities, and is expected to create 1,750 new American jobs.
"The future of mobility is electrification and the Greensboro-Randolph Megasite is the ideal location to make that future a reality," said Ted Ogawa, CEO of Toyota Motor North America. "North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business. 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."
In addition, as the company continues its efforts to reach carbon neutrality for its vehicles and operations by 2050, Toyota is committed to using 100% renewable energy at this new facility to produce the batteries.
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