Toyota has been a big name in electrified vehicles for quite some time, and now it's getting even more serious with production EVs and more hybrid models than ever. That means that its need for batteries is greater than ever. To cope with that, Toyota announced on Monday that it's building a new battery production facility in North Carolina at a cost of $1.29 billion, which isn't exactly chump change.
The facility will be called Toyota Battery Manufacturing, North Carolina (TBMNC) – super creative, I know – and once it's up and running at capacity, it will be able to produce enough battery packs for 1.2 million EVs and hybrids.
"North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business," Toyota Motor North America CEO Ted Ogawa said in a statement. "Today marks the beginning of a mutually beneficial partnership with the Tar Heel state as we embark on our journey to achieve carbon neutrality and provide mobility for all."
The plant is slated to come online in 2025 with four production lines with enough capacity for 200,000 vehicles each. The plant will also be able to expand with an additional two battery lines also at 200,000, bringing us to that 1.2 million vehicle figure. Toyota expects that TBMNC will create around 1,750 jobs in the Greensboro-Randolph area.