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Toyota to Build $1.29 BIllion EV Battery Plant

Chris Bolt

December 19, 2021
Toyota to Build $1.29 BIllion EV Battery Plant

Toyota has chosen North Carolina as its home for a $1.29 billion investment for a new battery plant to support its ever-growing demand for EV production. The project is due to start, and the plant will be in operation by 2025, which also is the expected timeframe for an even larger increase in EV demand. 

An Environmental Leader report had some details about the production capabilities. 

The facility will be able to make enough lithium-ion batteries for 200,000 electric vehicles, Toyota says, and will have the capability to expand to at least six production lines and up to 1.2 million vehicles per year. The plant will be located near Greensboro and is expected to be ready for production in 2025.

It’s a vital investment as Toyota expects that battery vehicles will make up 70% of all car sales by 2030. And having the capability to ramp up to 1.2 million cars is going to play a large part in achieving that. 

This investment is part of a larger global project to invest $13.6 billion in battery production. 

These are critical steps that other manufacturers will need to follow in order to make a fast and drastic switch away from internal combustion engines. 

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