Toyota will invest another $2.1 billion in an electric and hybrid vehicle battery factory that’s under construction near Greensboro, North Carolina.
Toyota will invest another $2.1 billion in an electric and hybrid vehicle battery factory that's under construction near Greensboro,The plant will supply batteries to Toyota's huge complex in Georgetown, Kentucky, which will build Toyota's first U.S.-made electric vehicle, a new SUV with three rows of seats.
Toyota plans to employ 2,100 workers at the North Carolina battery factory, which will start production in 2025. The investment will prepare infrastructure for expansion. It brings the total investment in the Randolph County plant to $5.9 billion to meet the company's goal of selling 1.8 million electric or hybrid vehicles in the U.S by 2030. Toyota broke ground to begin building the plant in 2021.
The North Carolina battery plant will have six battery production lines, four for gas-electric hybrid vehicles and two for fully electric vehicle batteries, Toyota said in a statement. The site near Greensboro is relatively close to many of Toyota’s existing U.S. auto assembly plants in Missouri, Kentucky, Indiana, Alabama and Texas.
Toyota’s new President Koji Sato has promised what he called an aggressive shift on "electrification" of vehicles including hybrids.
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