Toyota to Invest an Additional $8 Billion; Create an Additional 3,000 Jobs

Toyota will invest an additional $8 billion in its first North American electric vehicle battery manufacturing facility, adding another 3,000 jobs.

The project, called “Toyota Battery Manufacturing North Carolina” was initially a $1.29 billion investment announced in 2021 with expansions in 2022 and 2023 and is now valued at $13.9 billion. The project will create more than 5,000 jobs and is expected to be completed in 2025.

Located on an 1,825-acre megasite in Liberty, North Carolina, Toyota will manufacture batteries for hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs) using 100% renewable energy. This facility is critical in the expansion of Toyota’s global electrification efforts as the company plans to roll out 30 BEV models globally by 2030.

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