Big Law
Toyota Will Build a New $1.29 Billion EV Battery Plant in North Carolina
Toyota Motor will build a new $1.29 billion battery plant for electrified vehicles in North Carolina, the company announced Monday afternoon.
The company expects the facility to be capable of producing enough lithium-ion batteries for 200,000 all-electric and plug-in hybrid electric vehicles when production is scheduled to begin in 2025. The company said it plans to eventually expand battery production to up to 1.2 million vehicles per year.
The plant near Greensboro in central North Carolina is expected to create 1,750 jobs in the state, Toyota has said. The investment in the facility is scheduled through 2031.
