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

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