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Dive Brief:
- Toyota Motor Corp. announced Wednesday that it will invest an additional $10 billion in its U.S. operations over the next five years to support mobility efforts. Additional details were not disclosed.
- The automaker also started production at its electric vehicle battery plant in Liberty, North Carolina, the first and only such facility outside of Japan, the company said in the statement.
- The 7 million square foot Liberty factory is Toyota’s 11th and can produce 30 gigawatt hours of batteries annually at full capacity. The site is expected to create up to 5,100 jobs.
Diving knowledge:
Toyota first announced it was building an EV battery plant in North Carolina in December 2021, with an initial investment of approximately $1.3 billion. Since then, Toyota has gradually increased its investment in Liberty, bringing total spending to $13.9 billion.
Investments in Toyota’s battery plant in North Carolina are increasing over time
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December 2021
The company announced that it will spend 1.3 billion dollars to establish the installation of electric vehicle batteries
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August 2022
The automaker is starting construction on the plant and announced an additional $2.5 billion
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May 2023
Toyota announced spending an additional $2.1 billion on electric vehicle battery factory
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October 2023
The company announced that it will spend an additional $8 billion, bringing the total investment to $13.9 billion.
The new plant will serve as Toyota’s center for developing and producing lithium-ion batteries for its growing portfolio of electric vehicles, according to the Nov. 12 press release.
The facility will house 14 production lines supporting hybrid, battery-powered and plug-in hybrid electric vehicles.
The facility currently has “all different stages,” Don Stewart, president of Toyota Battery Manufacturing North Carolina, said in a video Wednesday. Four of the hybrid lines are currently operational while its first BEV line is in the testing phase. “So we’re actually producing batteries, but they can’t be sold,” Stewart said.
The Liberty plant assembles battery modules specifically for the Toyota Camry, Corolla Cross, RAV4 HEV models and an undisclosed BEV that Toyota said will be the first of its kind to be built in the United States. The company plans to add more production lines, which will be launched in 2030.
Stewart added that the North Carolina facility is helping Toyota become a mobility company through its various electric vehicle battery efforts. In April 2023, the company introduced a mobility strategy to accelerate the production of electric vehicles and achieve carbon neutrality by 2050, according to its media channel, Toyota Times. The strategy also includes improving the energy density of its lithium-ion batteries.
“How [the electrification age] it continues to rise, we’re on the cutting edge,” Stewart said.
In June, the equipment began sending HEV modules to the company Georgetown, Kentucky, plant as well as its joint venture assembly plant with Mazda Motor Corp. in Huntsville, Alabama, according to the automaker’s website.
“Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the US and North Carolina further solidifies our commitment to team members, customers, dealers, communities and suppliers,” Ted Ogawa, president and CEO of Toyota Motor North America, said in a statement.
The automaker also announced the second phase of its STEM education program, Driving Possibilities, awarding an additional $2.7 million grant to Guilford County Schools and the Asheboro City School District, according to the news release. The funds come from the company’s nonprofit, the Toyota USA Foundation. The manufacturer awarded $2 million in the first phase to Randolph and Guilford counties in April 2024.
