- Toyota is investing $10 billion in the United States over the next five years.
- The company also began production at their new battery plant in North Carolina.
- The facility will build batteries for hybrids, plug-in hybrids, and EVs.
Toyota has announced plans to invest an additional $10 billion in the United States over the next five years. The company didn’t say where the money is going or what it will fund, but it will bring their total U.S. investment to nearly $60 billion.
While the automaker was coy on specifics, the move comes amid tariffs and pressure from the Trump administration to build more vehicles in the United States.
Just last month, the White House said “Toyota plans to export its U.S.-made vehicles to Japan and open its distribution platform in Japan to U.S. automakers.”
The country also decided to allow sales of American-made vehicles and “U.S. safety-certified vehicles” without additional testing.
An American Battery Plant
Putting politics aside, Toyota Battery Manufacturing North Carolina has officially opened and begun production. Located in Liberty, the $13.9 billion plant is the company’s eleventh manufacturing facility in America and Toyota’s only battery plant outside of Japan.
It’s expected to generate up to 5,100 jobs and be capable of producing 30 GWh of battery capacity annually. While the opening comes shortly after the clean vehicle tax credit was eliminated, Toyota noted the plant has 14 battery production lines that support not only electric vehicles, but also hybrids and plug-in hybrids.
Speaking of which, batteries made at the plant will be used in the Camry Hybrid, Corolla Cross Hybrid, and RAV4 Hybrid. It will also make batteries for the company’s upcoming three-row EV.
While production is just getting started, Toyota plans to open additional assembly lines by 2030. The company also noted that once construction is complete, the facility won’t just be a workplace as it will also house a pharmacy, a medical clinic, a fitness center, and on-site childcare.
Toyota Motor North America CEO Tetsuo Ogawa remarked, “Today’s launch of Toyota’s first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company’s history. Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers.”
