Toyota's global investment climbs up to $5.6 billion, supporting electrification
N.C., Aug. 31, 2022 /PRNewswire/ -- Toyota
announced an additional investment of $2.5
billion in its newest North American facility, Toyota
Battery Manufacturing, North
Carolina (TBMNC). 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 (8 trillion JPY*) for
electrification efforts. Today, as part of this aspirational goal,
TMC announced a future battery production commitment of up to
$5.6 billion (730 billion JPY), which includes the new
"This marks another significant milestone for our company," said
Norm Bafunno, senior vice president,
Unit Manufacturing and Engineering at Toyota Motor North America.
"This plant will serve a central role in Toyota's leadership toward
a fully electrified future and will help us meet our goal of carbon
neutrality in our vehicles and global operations by 2035."
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.
"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."
Join the Team
Toyota North Carolina is
seeking motivated individuals to join its leadership team. To view
and apply for open positions, visit www.toyota.com/careers.
Production and maintenance employee positions will be available in
* Based on December 2021
Yen-Dollar exchange rate
Toyota (NYSE:TM) has been a part of the cultural fabric in
North America for more than 60
years, and is committed to advancing sustainable, next-generation
mobility through our Toyota and Lexus brands, plus our more than
Toyota directly employs more than 48,000 people in
North America who have contributed
to the design, engineering, and assembly of nearly 43 million cars
and trucks at our 13 manufacturing plants. By 2025, Toyota's 14th
plant in North Carolina will begin
to manufacture automotive batteries for electrified vehicles. With
more electrified vehicles on the road than any other automaker,
more than a quarter of the company's 2021 North American sales were
Through the Start Your Impossible campaign, Toyota highlights
the way it partners with community, civic, academic and
governmental organizations to address our society's most pressing
mobility challenges. We believe that when people are free to move,
anything is possible. For more information about Toyota, visit
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SOURCE Toyota Motor North America