Toyota has started production at its new battery plant in North Carolina, its first outside Japan, and will invest up to $10 billion in the United States over the next five years.
The $13.9 billion site is Toyota’s 11th factory in the U.S. Its U.S. investments now total almost $60 billion over the past seven decades, the company said.
“Today’s launch of Toyota’s first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company’s history,” said Toyota Motor North America CEO Ted Ogawa.
“Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers.”
U.S. President Donald Trump first said last month that Toyota planned a $10 billion investment in the U.S., though the company said it had not made a specific promise at that time.
The investment will “support future mobility efforts”, Toyota said.
The North Carolina facility will create up to 5,100 new jobs, according to Toyota. It is located in Liberty, near Greensboro, in the centre of the state.
The site’s 14 production lines will build batteries for hybrid electric, battery electric, and plug-in hybrid vehicles, including Toyota’s Camry, Corolla, and RAV4 models. It can produce 30 gigawatt hours annually at its full capacity.
The U.S. ended its $7,500 tax credit for electric vehicle buyers in September. While EV sales spiked ahead of the subsidy’s expiry, executives from companies like Ford and Nissan have projected that sales will drop dramatically in the following months.
Toyota has also announced a $2.7 million Toyota USA foundation grant to local North Carolina schools, part of its Driving Possibilities STEM education initiative.
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