Toyota Announces new $2.1 Billion Investment in US Battery Plant

Toyota will assemble an all-new, three-row, battery electric SUV at Toyota Kentucky starting in 2025. The company’s first U.S.-assembled BEV will be powered by batteries from Toyota North Carolina.

The new battery plant, which is currently under construction, will receive an additional $2.1 billion investment to support the company’s drive toward carbon neutrality.

 This brings the total investment in Toyota North Carolina to $5.9 billion.

The facility will be Toyota’s hub for developing and producing lithium-ion batteries needed for its expanding portfolio of EVs.

Production at the plant is slated to begin in 2025 with six battery production lines, four for hybrid electric vehicles and two for BEVs.

Ted Ogawa, president and chief executive officer, Toyota Motor North America, says: “We are committed to reducing carbon emissions as much as possible and as soon as possible. To achieve this goal, customers must have access to a portfolio of options that meet their needs now and in the future. It is exciting to see our largest U.S. plant, Toyota Kentucky, and our newest plant, Toyota North Carolina, drive us into the future together with BEV and battery production for our expanding electrified lineup.”

“Toyota Kentucky set the standard for Toyota vehicle manufacturing in the U.S. and now we’re leading the charge with BEVs,” adds Susan Elkington, president of Toyota Motor Manufacturing, Kentucky. “Our incredible team of Kentuckians is excited to take on this new challenge while delivering the same great quality and reliability that our customers expect.”

By 2025, Toyota plans to have an electrified option available for every Toyota and Lexus model globally.