Toyota is Investing an Additional $2.5 Billion to Expand its North Carolina Factory to Boost EV Battery Production

Toyota Motor Corp announced on Wednesday that it will invest an additional $2.5 billion at its newest U.S. facility, “Toyota Battery Manufacturing North Carolina” (TBMNC), to produce more batteries for electrified vehicles. Battery production is scheduled to begin in 2025. The latest investment brings Toyota’s total investment in North Carolina to $3.8 billion.

Eric Walz2022-10-07 09:45 PT

Vietnamese Electric Vehicle Startup VinFast Files for U.S. IPO, Recently Signed MoU to Build a $4 Billion EV Factory in North Carolina

Vietnamese electric vehicle startup VinFast has big plans for expansion outside of its home country. On Thursday, its Singapore-based holding company filed for an initial public offering (IPO) with U.S. securities regulators. The plans were first reported by Reuters. The plans come after VinFast signed an MoU to build its electric vehicle factory in North Carolina. The company is investing up to $4 billion in the plant.

FutureCar Staff 2022-05-15 16:30 PT

Vietnamese Electric Vehicle Startup VinFast Signs MoU With North Carolina Officials to Build its U.S. Factory in the State

Vietnamese electric vehicle startup VinFast, a subsidiary of conglomerate Vingroup, announced that it signed a memorandum of understanding (MOU) with the government of North Carolina for the establishment of VinFast’s first North American EV manufacturing plant in the state. VinFast’s North Carolina factory will create a major EV manufacturing hub in Chatham County’s Triangle Innovation Point megasite.

FutureCar Staff 2022-05-05 14:00 PT

Toyota to Build a ‘Multi-Billion Dollar' EV Battery Plant in North Carolina, its First in the U.S.

Toyota Motor Corp is making a "multi-billion dollar" investment to build an EV battery factory in North Carolina, state officials announced on Monday. The plant will supply the batteries for Toyota’s future U.S.-built models and employ roughly 1,750 workers from 2025 to 2029, making it one of the largest manufacturing investments in the state’s history, according to North Carolina's Commerce Department.

Eric Walz2022-01-12 11:15 PT