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Toyota Motor announced on Tuesday its plans to invest an additional $8 billion in its electric vehicle (EV) battery manufacturing plant located in North Carolina. This investment will also result in the creation of approximately 3,000 new jobs.
Toyota's Strong Commitment to Electrification
Reuters noted that in alignment with its goal to have electrified options for all its models by 2025, Toyota's latest investment will bring its total investment in the North Carolina plant to an impressive $13.9 billion, contributing to a total workforce of over 5,000 employees.
Toyota, while previously placing its bets on hybrids and hydrogen fuel cell vehicles, has now taken a significant pivot towards battery EVs. This shift in strategy involves the commercialization of advanced batteries and the adoption of Tesla's innovative die-casting technology.
Toyota is not alone in its endeavor to establish a strong presence in the U.S. for battery manufacturing. Companies like Samsung SDI Co, Panasonic, and Chrysler-parent Stellantis NV also have plans to set up their battery plants to contribute to the development of electric vehicles, according to a press release by PR Newswire.
Driving Towards a Sustainable Future
Toyota's North Carolina facility, set to begin operations in 2025, will mark its first-ever dedicated automotive battery plant worldwide. The facility will feature six battery production lines. Four of these will support hybrid vehicles like the renowned Prius, while the remaining two lines will be dedicated to battery EVs.
North Carolina is quickly emerging as a prominent hub for electric vehicle and battery manufacturing. With a diverse range of investments from companies such as Redwood Materials and Vietnam's Vinfast, the state is attracting significant attention.
North Carolina Governor Roy Cooper emphasized the positive impact of these investments, stating that they will not only create better-paying jobs but also support families and communities for generations to come.
The transition to a clean energy economy in North Carolina is not only generating economic growth but also promoting sustainable practices. Investments from global players like Toyota and EAM are paving the way for greener transportation alternatives and providing promising job opportunities for the local community.
In addition to Toyota's investments, North Carolina will host a $650 million battery plant by India's Epsilon Advanced Materials (EAM) in 2026. Once operational, this facility has the potential to supply up to 1.1 million electric vehicles in the United States alone.
Photo: Austin Park/Unsplash
