Toyota Plans $1.29 Billion Electric Vehicle Battery Factory In North Carolina

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The made-in-the-USA dept. was posted by BeauHD on Monday December 6.

Toyota will open a battery plant with at least 1,750 employees about an hour's drive outside the Triangle, after North Carolina approved an incentive package Monday worth $438.7 million for the company. The Japanese auto maker announced in October that it would build a $1.29 billion facility in the United States to make hybrid and electric vehicle batteries, a key component of its plans to make 70% of its cars electric by the end of the decade. Liberty, a small town in the middle of the state of North Carolina, is home to the Greensboro-Randolph Megasite, one of the designated areas in the state for large manufacturers.

Toyota will expand operations by 2031. Chris Reynolds, chief administrative officer of corporate resources for Toyota North America, said that the site will produce 1.2 million battery packs per year. The state's Economic Investment Committee approved the state's incentive for Toyota at a special meeting on Monday. The state's contribution is just one part of an incentive package that could reach $271.4 million. Reynolds did not have a time frame for when the plant would be up and running. According to the state's Commerce Department, Toyota will create 1,750 jobs by 2029, with the jobs paying a minimum average wage of $62,234.



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