Toyota's $8 Billion Investment Boosts U.S. Battery Manufacturing and EV Commitment

Electric VehiclesHigh Tech / High Touch
Written By Jennifer Joslyn

Toyota is committing an additional $8 billion to its battery manufacturing facility in North Carolina, marking the largest investment by a foreign automaker in the United States since the passage of the Inflation Reduction Act (IRA) in 2022. This investment will bring Toyota's total investment in the plant to approximately $13.9 billion by 2030 and create around 3,000 new jobs, totaling more than 5,000. The move reflects Toyota's commitment to electric vehicle (EV) production and its goal to offer electrified options for all Toyota and Lexus models globally by 2025.

Read more at Financial Times >

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Jennifer Joslyn
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