LIBERTY, NC—Toyota will invest an additional $2.5 billion in its newest North American assembly plant, Toyota Battery Manufacturing North Carolina (TBMNC). This investment will boost production of batteries and adds 350 jobs, bringing total employment at the factory to approximately 2,100. Scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles and battery electric vehicles.
Last year, Toyota Motor Corp. announced a global investment of approximately $70 billion for electrification efforts.
“This marks another significant milestone for our company,” says Norm Bafunno, senior vice president of 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, unveiled plans for the new Liberty assembly plant with an initial investment of $1.29 billion for battery production and the creation of 1,750 new jobs. With the latest announcement, TBMNC’s total investment is $3.8 billion.