Toyota announced today that they are building a new $1.29 billion EV battery plant in North Carolina.
Located near Greensboro, North Carolina, the plant will produce enough lithium-ion batteries for 200,000 EV vehicles.
The plant expects to begin production in 2025.
The North Carolina location is the first EV battery plant in the United States for the Japanese-based automaker. The company hopes to create 1,750 jobs within the state, reports CNBC.
Once operational and fully expanded, the Toyota EV battery plant will provide batteries for 1.2 million vehicles per year. This is not a new investment for Toyota. Instead, this plant is part of the $3.4 billion the company announced in October to electrify their vehicle line-up. Toyota plans to invest in the plant through 2031.
One of the more unique points in the announcement was that the plant would be carbon neutral and powered by renewable energy. Toyota did not confirm what type of renewable energy would power the plant, but did commit to 100 per cent renewable power.
Toyota did not confirm the plant’s exact location, the details on manufacturing or megawatts produced per year, nor when construction would begin.
However, with a 2025 production date, there is still quite a bit of lead time for the Japanese automaker.
