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Toyota to Pump $8 Billion More Into US EV Battery Factory

The Japanese auto giant is accelerating its efforts to catch up with its legacy rivals by boosting its investment in its North Carolina plant

Toyota president Akio Toyoda is seen at a briefing on the company's strategies on battery EVs in Tokyo. Photo: Reuters


Toyota Motor is to plough $8 billion more into its electric-vehicle battery manufacturing plant in North Carolina, as the Japanese automaker ups the pace on electrifying its line-up.

The company, which plans to have electrified options for its models available by 2025, said the latest move will bring its total investment in the plant to about $13.9 billion and jobs to more than 5,000.


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Legacy automakers such as Ford Motor and General Motors have been racing to ramp-up their EV output and close the gap with market leader Tesla.

Toyota’s North Carolina facility is set to begin operations in 2025 and will be the company’s first automotive battery plant globally.

It will have six battery production lines, four supporting hybrid vehicles such as the Prius, and two additional lines to support battery electric vehicles.


  • Reuters with additional editing by Sean O’Meara


Read more:

Toyota to Speed Up EV Production, Sets 600,000 Target For 2025

Toyota Japan Shutdown Down to Lack of Disk Space – Nikkei

Toyota Targets Hydrogen Trucks, Car Push in China, Europe

Japan Gives Toyota $841m to Drive Domestic EV Battery Output



Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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