Toyota Motor Corporation announced today that it will invest an additional $2.5 billion in its Toyota Battery Manufacturing North Carolina (TBMNC) plant. The expansion will add capacity to support battery electric vehicle (BEV) battery production and add 350 jobs, bringing the total employment to approximately 2,100.
TBMNC is Toyota's first automotive battery manufacturing plant in North America. The plant is located in Liberty, North Carolina, and is scheduled to begin production in 2025. When it is fully operational, TBMNC will have six production lines, each capable of producing enough lithium-ion batteries for 200,000 vehicles per year.
The expansion of TBMNC is part of Toyota's broader commitment to electrification. The company plans to invest $70 billion in electrification by 2030, and it expects to sell 3.5 million electrified vehicles globally by that time.
"This investment is a major milestone in our electrification journey," said Jim Lentz, CEO of Toyota Motor North America. "It will help us to meet the growing demand for electrified vehicles in North America and to create good-paying jobs in the state of North Carolina."
The expansion of TBMNC is expected to have a significant economic impact on the state of North Carolina. The project is expected to create 350 new jobs during construction and 1,750 permanent jobs once the plant is operational. The project is also expected to generate $1.2 billion in economic output and $200 million in tax revenue for the state.
"This is a great day for North Carolina," said Governor Roy Cooper. "Toyota's decision to expand its battery plant here is a vote of confidence in our state's workforce and our commitment to clean energy."
The expansion of TBMNC is a major win for Toyota and for the state of North Carolina. The project will help Toyota to meet the growing demand for electrified vehicles and it will create good-paying jobs in the state.
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