• Home
  • News
    • Air Mobility
    • Commercial vehicles
    • Battery
    • Sales
    • Charging
    • Industry
    • China
    • Autonomous
    • Concept
    • Conversion
    • Green Energy
    • Hydrogen
    • Industry
    • Formula E
    • Market Outlook
    • Modification
    • Motorcycles
    • Official
    • Ownership Experience
    • Price
  • Support us
  • Advertising
  • Contact
EVMagz
SUBSCRIBE
No Result
View All Result
  • Home
  • News
    • Air Mobility
    • Commercial vehicles
    • Battery
    • Sales
    • Charging
    • Industry
    • China
    • Autonomous
    • Concept
    • Conversion
    • Green Energy
    • Hydrogen
    • Industry
    • Formula E
    • Market Outlook
    • Modification
    • Motorcycles
    • Official
    • Ownership Experience
    • Price
  • Support us
  • Advertising
  • Contact
EVMagz
SUBSCRIBE
No Result
View All Result
EVMagz
No Result
View All Result

Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

by David Smith
December 7, 2021
in Battery, News, Toyota
0
Toyota Battery Factory - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Toyota building a new $1.29 billion battery plant in North Carolina (Pixabay)

136
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Toyota Motor Corp. announced Monday, Dec. 6 that it is building a new $1.29 billion battery plant in North Carolina in an effort to expand its hybrid and electric vehicle efforts.

The new plant, located in Liberty will start production in 2025, initially will be able to supply lithium-ion batteries for 800,000 vehicles annually. The plant will “pave the way” for Toyota's electric vehicle production in the US, said Chris Reynolds, head of administration for Toyota Motor in North America.

The investment will be made by a new company called Toyota Battery Manufacturing and is expected to create 1,750 new jobs in the US.

According to a Reuters report, in October, Toyota said it would set up a new company and build a new US auto battery factory with Toyota Tsusho, the automaker's metal trading subsidiary and a unit of the Toyota Group. Toyota will hold a 90% stake in the battery company.

North Carolina said the new plant will initially produce batteries for Toyota's hybrid vehicles, and intends to produce batteries for long-term EVs.

The states will reimburse Toyota for up to US$79.1 million over 20 years and if Toyota expands the project to US$3 billion, they could receive up to about US$315 million.

The state approved additional support to help with final site preparation, including $135 million for road and other site improvements. If Toyota expands the project, US$185 million in site development funds will also be available.

Toyota said the plant in North Carolina plans to expand at least six production lines to 1.2 million batteries per year.

The investment is part of Toyota's announcement in October that it would invest $3.4 billion in US automotive battery development and production through 2030.

The funds are part of the $13.5 billion Toyota announced in September that it plans to spend globally by 2030 on developing batteries.

Automakers around the world are investing billions of dollars to increase production of batteries and electric vehicles as they face increasingly stringent environmental regulations.

Toyota has been waging a lobbying campaign to try to convince US lawmakers not to include an additional $4,500 tax incentive for union-made electric vehicles.

In August, US President Joe Biden signed an executive order setting a target to make half of all new vehicles sold by 2030 zero-emissions vehicles.

Biden's 50% goal and the automaker's 2030 goal include battery electric, fuel cell and plug-in hybrid vehicles that also have a gasoline engine.

Google News icon Follow EVMagz on Google News
Donate
Tags: evToyota
Previous Post

Volkswagen beating Tesla become the EV market leader in Europe

Next Post

Porsche Recalls 35 Taycan EV Because Suspension Isssue

David Smith

David Smith

Studied in management. David been covering the electric vehicle scene since 2010 with focus in sports and Europe EV Brand.

Next Post
loose suspension prompts nutty porsche taycan recall in the us - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Porsche Recalls 35 Taycan EV Because Suspension Isssue

Discussion about this post

Support Our Work

Join us in advancing sustainable transportation! Support EVMagz by donating today. Your contribution helps us provide accurate and up-to-date info on electric vehicles and sustainable mobility.

Donate
  • Trending
  • Comments
  • Latest
tesla cybertruck testing on fremont track - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Tesla Cybertruck’s Acceleration Tested in New Video Amid Delivery Speculation

September 23, 2023
YT 2025 Kia EV5 Scoop - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

2025 Kia EV5 Electric SUV Captured in Real-World Setting, Impressing with its Sleek Design

September 22, 2023
Ioniq 5 Drift - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Watch the Drift King, Keiichi Tsuchiya, Masterfully Drift the Hyundai Ioniq 5 N

September 23, 2023
Fisker Pear 1 1 - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Inside the Fisker PEAR: A Closer Look at Its Streamlined Interior with Tesla-Inspired Features and Innovative Practical Elements

September 22, 2023
2024 kia niro ev with the 2024 niro hybrid and 2024 niro plug in hybrid - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Kia Announces Pricing and Updates for 2024 Niro EV : Starting at $40,925 with Premium Wave Trim at $46K

September 23, 2023
2023 BYD Seal - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Chinese Electric Vehicles Face Hurdles in Entering U.S. Market Despite Global Dominance

September 24, 2023
hyundai pony coupe concept rendering - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Hyundai Files Trademark Application for “N74” Name, Fuelling Speculation of a New Sports Car

September 24, 2023
2023 porsche taycan 4s cross turismo - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Porsche Taycan Cross Turismo Completes 5,000km Australian Road Trip, Demonstrating EV Viability

September 24, 2023
Zeekr X Europe 1 - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

European Companies Call on China to Boost Domestic Consumption Amidst Electric Vehicle Surge

September 24, 2023
Bolt cruise robotaxi - Toyota Invests in Electric Vehicle Battery Factory in North Carolina, Operates 2025

Autonomous Taxis Cause Traffic Snarl in Austin, Texas, Prompting Concerns

September 24, 2023

Tags

Automotive Autonomous Batteries Battery BYD Charging charging station China Commercial Vehicle company electric car Electric Truck electric vehicle electric vehicles Electrification Energy Europe Fast Charging Fleet General Motors Germany Hybrid Hydrogen Hyundai infrastructure Invest lithium Lithium-ion North America performance platform Price Production Range Sales Software Specification Specifications Supply Chain Sustainable technology Tesla Truck United States Volkswagen

About EVMagz

EVMagz is a website focused on reporting on electric vehicles industry. The site was officially launched at the end of 2021 and in a short period of time, with the expertise of the team, it has quickly become the website of choice for many people to get news about the electric vehicles.

  • Home
  • About Us
  • Advertising
  • Support EVMagz
  • Newsletter
  • Privacy Policy
  • Cookie Policy
  • Contact

Browse by Tag

Automotive Autonomous Batteries Battery BYD Charging charging station China Commercial Vehicle company electric car Electric Truck electric vehicle electric vehicles Electrification Energy Europe Fast Charging Fleet General Motors Germany Hybrid Hydrogen Hyundai infrastructure Invest lithium Lithium-ion North America performance platform Price Production Range Sales Software Specification Specifications Supply Chain Sustainable technology Tesla Truck United States Volkswagen

Networks

  • EnergyMagz
  • Smashfreakz
  • Teknowire

© 2023 Develop by EVMagz.

No Result
View All Result
  • News
    • Software
    • Autonomous
    • Battery
    • Charging
    • China
    • Commercial vehicles
    • Concept
    • Green Energy
    • Industry
    • Market Outlook
    • Modification
    • Motorcycles
    • Official
    • Politics
    • Rumors
    • Safety
    • Sales
    • Technology
  • Brand
    • Audi
    • BMW
    • BYD
    • Chevrolet
    • Chrysler
    • Citroen
    • Dacia
    • Daihatsu
    • Ford
    • Geely
    • Honda
    • Huawei
    • Hyundai
    • Kawasaki
    • KIA
    • Lexus
    • Lotus
    • Lucid
    • Mazda
    • Mercedes-Benz
    • Mitsubishi
    • NIO
    • Nissan
    • Polestar
    • Porsche
    • Renault
    • Rivian
    • Rolls-Royce
    • Sony
    • Subaru
    • Suzuki
    • Tesla
    • Toyota
    • VinFast
    • Volkswagen
    • Volvo
    • Wuling
    • XPeng
  • Guides
  • Sports
    • Formula E
    • MotoE
    • Rally1
  • Photos
  • Videos

© 2023 Develop by EVMagz.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.