Toyota Invests Big In Batteries

Toyota Invests Big In Batteries

With an $8 billion investment, Toyota plans for 10 new BEV/PHEV battery lines by 2030.

Toyota invested nearly $8 billion which will add approximately 3,000 jobs at Toyota Battery Manufacturing North Carolina (TBMNC). This brings total investment to approximately $13.9 billion and job creation to more than 5,000, Toyota said, further supporting Toyota’s multi-pathway approach to global vehicle electrification.

Toyota said this investment adds capacity to support battery electric vehicles (BEV’s) and plug-in hybrid electric vehicles (PHEV’s). An additional eight BEV/PHEV battery production lines will be added to the two previously announced, for a total of 10 BEV/PHEV battery lines. In addition, as originally announced, the plant will also have four battery lines for Hybrid Electric Vehicles (HEVs). Production will be increased in a phased approach, with line launches planned through 2030 to reach a total production of more than 30 GWh annually.

In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of $1.29 billion for battery production and the creation of 1,750 new jobs. With this announcement, Toyota said its North Carolina location solidifies its position as the company’s epicenter of lithium-ion battery production in North America. Overall, the campus will boast seven million square feet, equating to 121 football fields of battery production.

Toyota said it has put more than 24.6 million hybrid, plug-in hybrid, fuel cell and battery electric vehicles on the road globally. By 2025, the company said it plans to have an electrified option available for every Toyota and Lexus model globally.

You May Also Like

Wallbox Announces Milestones in Acquisition of ABL

The company says the move has already paid off in the effort to support the EV transition.

Wallbox announced a number of milestones since its acquisition of ABL. According to the company, the move has already paid off in the effort to support the EV transition."We are immensely proud of what we have achieved in the first six months following Wallbox’s acquisition of ABL," said Jaume Ferre, Co-CEO of ABL and CTO of Wallbox. "The synergies between our companies have allowed us to move forward quickly with product integrations. We only expect this cadence to continue and to strengthen our ability to set new standards for innovation, reliability and customer experience."

Autel Energy Unveils Megawatt Charging System at ACT Expo

The MaxiCharger Megawatt Charging System is designed for heavy-duty electric trucks.

Mullen Continues Commercial EV Dealer Expansion in Midwest

New franchise partners Ziegler Truck Group and Range Truck Group will focus on the Pacific Northwest and upper Midwest regions of the U.S.

Genesis Expands EV Availability to 37 States

GV60, Electrified GV70 and Electrified G80 are now available at select retailers in Alabama, Kansas, Oregon and Rhode Island.

Eaton to Supply ELocker Differential System to EV Manufacturer

The system leverages an electric motor to power the rear wheels and an electric motor or an optional ICE driving the front wheels.

Other Posts

Eli Opens Reservations for its Micro-EV in the US

The new Eli ZERO represents a new category of high-tech, efficient and sustainable micro-EVs, according to Eli Electric Vehicles.

EVgo Recognized With 1st Place Leadership Award

The Los Angeles Dept. of Water & Power honored EVgo for its commitment to transportation electrification.

Toyota Explores Lithium-Ion Battery Recycling

The joint research project seeks to utilize a new process for recovering critical battery materials.

Honda to Establish EV Value Chain in Ontario, Canada

It will strengthen EV supply system and capability with an eye toward a future increase in EV demand in North America, Honda said.