LIBERTY, N.C. — Toyota (NYSE: TM) has begun production at its new $13.9 billion battery plant in Liberty, approximately 20 miles southeast of Greensboro, N.C. The 7 million-square-foot facility, which broke ground in 2021, is Toyota’s first and only battery plant outside of Japan and the company’s 11th U.S. plant.
Toyota will also make an additional investment of up to $10 billion over the next five years to “support future mobility efforts,” according to company representatives. Toyota has invested nearly $60 billion since the company began its U.S. operations nearly 70 years ago.
“Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the United States and North Carolina further solidifies our commitment to team members, customers, dealers, communities and suppliers,” says Ted Ogawa, president and CEO of Toyota Motor North America (TMNA).
Toyota North Carolina is expected to create as many as 5,100 jobs.
“This new facility will bring new opportunities and long-term growth to our state. It’s another sign that North Carolina continues to lead the way in manufacturing and innovation,” adds U.S. Representative Richard Hudson of North Carolina.
The 1,850-acre site can produce 30 gigawatt-hours (GWh) annually at full capacity and will serve as Toyota’s hub for developing and producing lithium-ion batteries needed for its electrified vehicles.
The plant will house 14 battery production lines that support hybrid electric vehicles (HEVs), battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Additional production lines at Toyota North Carolina are set to launch by 2030.
Batteries assembled at Toyota North Carolina will power the Camry HEV, Corolla Cross HEV, RAV4 HEV and a yet-to-be-announced all-electric BEV — the first of its kind for Toyota to be manufactured domestically. The plant currently ships HEV modules to both Toyota Motor Manufacturing in Kentucky and Mazda Toyota Manufacturing in Alabama.
Upon completion of construction, the new facility will feature a range of amenities for its employees, including onsite childcare, a pharmacy, medical clinic and fitness center.
Toyota has sold more than 6.6 million hybrid, plug-in hybrid, fuel cell and BEVs in the United States since 2000.
Toyota’s stock closed at $205.02 per share on Thursday, Nov. 13, up from $172.35 a share a year ago, a nearly 19 percent increase.
— Abby Cox