Toyota has announced a new investment of nearly $8 billion in their battery manufacturing plant in North Carolina.
This investment hopes to add capacity to support the production of battery electric vehicles (BEV’s) and plug-in hybrid electric vehicles (PHEV’s).
This brings total investment to approximately $13.9 billion and job creation to more than 5,000.
The ten battery line launches planned through 2030 at the site will hopefully bolster production to more than 30GWh annually.
Toyota has claimed that this announcement will help to solidify North Carolina’s position as the company’s epicentre of lithium-ion battery production in North America.
Toyota has put more than 24.6 million hybrid, plug-in hybrid, fuel cell and BEVs on the road globally and plan to have an electrified option available for every Toyota and Lexus model by 2025.