The Strategist

Toyota to invest $8B more in US plant to produce batteries for electric cars

11/01/2023 - 08:50

Toyota's largest battery facility outside of Japan will get an additional investment of almost $8 billion, the company's North American division announced in a news statement.

James LeVeque
James LeVeque
The North Carolina project will require a total investment of approximately $13.9 billion.

The new investments will create three thousand jobs for over 5,000 people.

The factory will have eleven production lines altogether because of extra expenditures.

The lines will be gradually placed into service up to 2030. Toyota plans to expand the plant's annual capacity to more than 30 GWh.