Toyota just announced it will be making an additional investment of $2.5 billion in its newest North Carolina facility, the Toyota Battery Manufacturing North Carolina (TBMNC) at the Greensboro-Randolph megasite. This investment adds capacity to support battery electric vehicle (BEV) battery production and adds 350 jobs, bringing the total employment to approximately 2,100. Scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles (HEV) and BEVs.
Last year, Toyota Motor Corporation (TMC) announced a global investment of approximately $70 billion for electrification efforts. Today, as part of this aspirational goal, TMC announced a future battery production commitment of up to $5.6 billion, which includes the new North Carolina investment.
In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production and the creation of 1,750 new jobs. With today’s announcement, TBMNC’s total investment is $3.8 billion.
“We are thrilled to hear about Toyota’s additional investment in the Randolph site,” said Mary Rice, dealer principal for Rice Motor Company. “At Rice, we are committed to helping this community thrive. This new plant not only brings jobs, but the ability to manufacture batteries for HEVs ad BEVs in America.”
“This is an exciting time for Toyota, the region and the many North Carolinians we will soon employ,” said Sean Suggs, TBMNC president. “This incremental investment reflects our continued commitment to ensuring jobs and future economic growth for the Triad region.”
The official announcement from Toyota can be found here.