Toyota North America is set to build a new $1.29 billion battery manufacturing plant in North Carolina.
The new plant is set to be built at the Greensboro-Randolph Megasite, some 60 miles from North Carolina’s state capital, Raleigh.
The $1.29 billion investment, which includes funds to develop the land and facilities at the site, should create 1,750 new jobs in the area and allow Toyota to create lithium-ion batteries for 200,000 cars when it starts production in 2025.
Toyota is expecting that the site will eventually expand production up to 1.2 million vehicles per year.
“The future of mobility is electrification and the Greensboro-Randolph Megasite is the ideal location to make that future a reality,” says Ted Ogawa, CEO of Toyota Motor North America.
“North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business. Today marks the beginning of a mutually beneficial partnership with the Tar Heel state as we embark on our journey to achieve carbon neutrality and provide mobility for all.”
Toyota, which recently announced its plan to double-down on plug-in hybrids, rather than pure electric cars, is hoping to be completely carbon-neutral by 2050.