Toyota Opens U.S. Battery Plant: $10 billion Investment

Toyota’s first battery manufacturing plant in the U.S. has been launched in North Carolina. The company considers this as a key achievement, leveraging their strategies used in electric and hybrid vehicles. Furthermore, marking its long-term five -year commitment to the U.S. economy Toyota has also announced the investment of $10 billion for the company’s functioning in the U.S. market. This is mainly in regard to the progressive plan that the company has developed in making a shift to electric and hybrid vehicles –says internal reports from the company. 

Spread across a vast 1850 acre property, the new site offers nearly 5000 jobs, with an investment of $13.9 billion. On the successful completion of the plant in its effective functioning, the plant will run 14 lines, resulting in the production of 30 GWh output batteries. This has a major impact on the automobile industries where customers aim at finding the car models with highest mileage. 

Toyota Motor Corporation aims at supplying these batteries produced in their New Carolina facility to their assembly units in Kentucky and to the joint venture site in Mazda, Alabama. The key goal of the company is to power their top-selling hybrid models - Camry, Corolla Cross and Rav4. Besides ,Toyota also targets their three-row electric SUV to use these batteries produced in their new facility, as these SUVs are primarily for the U.S. market. 

This new strategic move by Toyota Motor Corporation will accelerate their expansion in the U.S. automobile market, thereby, exceeding their investment beyond $60 billion, adding to the efforts on promoting clean mobility in America.