Toyota Powers Up: $13.9 Billion Battery Plant Sparks U.S. Investment

Toyota Motor has launched production at its $13.9 billion North Carolina battery plant, committing up to $10 billion for U.S. investment over five years. The facility will support hybrid and electric vehicles, producing batteries for models like Camry, Corolla, RAV4, and a new electric SUV.

Toyota Motor Corporation has commenced production at its massive North Carolina battery facility, initially valued at $13.9 billion. The Japanese automaker aims to invest an additional $10 billion in the United States over the next five years, underscoring its commitment to hybrid and electric vehicles.

The North Carolina plant will supply batteries for popular models including the Camry, Corolla Cross, and RAV4. Additionally, the batteries will power a forthcoming all-electric three-row SUV. This initiative marks Toyota's 11th manufacturing site in the country.

Spanning 1,850 acres, the facility boasts the potential to produce 30 GWh annually and features 14 production lines specializing in hybrid, plug-in electric, and fully electric vehicle battery technology. This investment aligns with Toyota's strategy to enhance its presence in the competitive U.S. auto market.

(With inputs from agencies.)