Together with the previously announced investment in battery systems for hybrids, the company will invest $3.8 billion in the plant.
Toyota has just announced an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina (TBMNC).
The new investment is related to battery-electric vehicle (BEV) battery production and comes on top of the $1.29 billion investment related to hybrid/plug-in hybrid vehicle (HEV/PHEV) battery production, which was announced in late 2021.
In total, the Japanese company will invest $3.8 billion at the site and create approximately 2,100 jobs (350 additional for the BEV battery systems).
Production of BEV battery systems is expected to start in the next few years – probably in 2025 (like the HEV battery systems) or so.
Toyota does not say what might be the manufacturing capacity of TBMNC, but considering the amount, we guess that it will be a double-digit number of GWh annually.
Another question is also whether TBMNC, which is a joint venture between Toyota Motor North America and Toyota Tsusho, will produce only battery packs or also lithium-ion cells.
Nonetheless, the $2.5 billion is a noticeable investment – part of a new $5.6 billion package for the US and Japan, which is expected to increase the BEV battery system output by 40 GWh annually.
Norm Bafunno, senior vice president, Unit Manufacturing and Engineering at Toyota Motor North America said:
“This marks another significant milestone for our company. This plant will serve a central role in Toyota’s leadership toward a fully electrified future and will help us meet our goal of carbon neutrality in our vehicles and global operations by 2035.”
Sean Suggs, TBMNC president said:
“This is an exciting time for Toyota, the region and the many North Carolinians we will soon employ. This incremental investment reflects our continued commitment to ensuring jobs and future economic growth for the Triad region.”
Toyota Battery Manufacturing, North Carolina (TBMNC) in brief:
- JV: Toyota Motor North America (90%), Toyota Tsusho (10%)
Established: November 2021 - Capital: $468 million (excluding equipment costs)$1.29 billion investment by 2031 (related to HEVs)$2.5 billion investment (related to BEVs)
$3.8 billion investment total (HEVs + BEVs) - location: Greensboro-Randolph Megasite in North Carolina
- No. of Employees: roughly 2,100 total (planned)
- Business areas: Automotive battery manufacturing for electrified vehicles
(battery systems for hybrids and battery-electric vehicles) - batter pack production start: 2025
- capacity (HEV battery systems): initially 4 production lines (each up to 200,000 battery packs per year and up to 800,000 per year total)
at least six production lines and 1.2 million battery packs per year at a later point - capacity (BEV battery systems): N/A