Toyota adds to plans for megasite

LIBERTY – Toyota announced an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina at the Greensboro-Randolph megasite.

Last week’s announcement means added capacity to support battery electric vehicle battery production and adds 350 jobs, bringing the total employment to approximately 2,100.

Scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles and battery electric vehicles. Construction has begun.

Last year, Toyota Motor Corporation announced a global investment of approximately $70 billion for electrification efforts. Last week, as part of this aspirational goal, TMC announced a future battery production commitment of up to $5.6 billion, which includes the new North Carolina investment.

“This marks another significant milestone for our company,” said Norm Bafunno, senior vice president, Unit Manufacturing and Engineering at Toyota Motor North America. “This plant will serve a central role in Toyota’s leadership toward a fully electrified future and will help us meet our goal of carbon neutrality in our vehicles and global operations by 2035.”

In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production and the creation of 1,750 new jobs. Now, the company’s total investment is $3.8 billion.

“This is an exciting time for Toyota, the region and the many North Carolinians we will soon employ,” said Sean Suggs, TBMNC president. “This incremental investment reflects our continued commitment to ensuring jobs and future economic growth for the Triad region.”

By Randolph Record