Toyota Selects North Carolina Greensboro-Randolph Site for New U.S. Automotive Battery Plant

Rhea-AI Summary

On December 6, 2021, Governor Roy Cooper and Mayor Filmore York announced that Toyota Motor North America will establish a $1.29 billion automotive battery manufacturing plant at the Greensboro-Randolph Megasite in North Carolina. The facility, named Toyota Battery Manufacturing, North Carolina (TBMNC), is set to begin operations in 2025 with four production lines, eventually expanding to six, capable of producing batteries for up to 1.2 million vehicles annually. This project is expected to create 1,750 jobs and is part of Toyota's broader goal of achieving carbon neutrality by 2050.

Positive

• Investment of $1.29 billion in new battery manufacturing plant.
• Creation of 1,750 new American jobs.
• Capacity to produce batteries for up to 1.2 million vehicles annually.
• Commitment to 100% renewable energy for the facility.
• Strong local government support and infrastructure.

Negative

• None.

LIBERTY, N.C., Dec. 6, 2021 /PRNewswire/ -- Today, Governor Roy Cooper of North Carolina and Mayor Filmore York of Liberty, North Carolina, joined Toyota Motor North America's leaders to announce Greensboro-Randolph Megasite has been chosen as the location for Toyota's new $1.29 billion automotive battery manufacturing plant, to be named, Toyota Battery Manufacturing, North Carolina (TBMNC).

When it comes online in 2025, TBMNC will have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles—with the intention to expand to at least six production lines for a combined total of up to 1.2 million vehicles per year.

The $1.29 billion investment made by Toyota and Toyota Tsusho is partially funded from a total investment of approximately $3.4 billion previously announced on October 18, and is expected to create 1,750 new American jobs.

"The future of mobility is electrification and the Greensboro-Randolph Megasite is the ideal location to make that future a reality," said Ted Ogawa, CEO of Toyota Motor North America. "North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business. Today marks the beginning of a mutually beneficial partnership with the Tar Heel state as we embark on our journey to achieve carbon neutrality and provide mobility for all." 

"I'm glad that Toyota Battery Manufacturing has chosen to call North Carolina home," said Governor Cooper. "This investment in our state is a testament to our world class workforce and growing economy. North Carolina is working hard every day toward a clean energy future and projects like this will help us get there."

In determining the location for the new plant, Toyota was interested in renewable energy availability as well as support from local stakeholders, including governments, utilities, partners, and others. Candidates for the site were narrowed down based on these requirements and Greensboro-Randolph Megasite met and exceeded these needs with:

-       An extensive and well-maintained highway system for overland logistics 
-       Four international airports and two seaports
-       Onsite rail
-       An outstanding, diverse workforce
-       Renewable energy availability
-       World-renowned education system
-       Strong government partnership at both the state and local levels

In addition, as the company continues its efforts to reach carbon neutrality for its vehicles and operations by 2050, Toyota is committed to using 100% renewable energy at this new facility to produce the batteries.

New Company Overview

Company Name	Toyota Battery Manufacturing, North Carolina
Established	November 2021
Representative	Norm Bafunno (interim)
Shareholders	Toyota (90%) and Toyota Tsusho (10%)
No. of Employees	1,750 (planned)
Capital	$468M (excluding equipment costs)
Business Areas	Automotive battery manufacturing for electrified vehicles

About Toyota

Toyota (NYSE:TM) has been a part of the cultural fabric in the U.S. for more than 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our nearly 1,500 dealerships.

Toyota has created a tremendous value chain and directly employs more than 36,000 in the U.S. The company has contributed world-class design, engineering, and assembly of more than 30 million cars and trucks at our 9 manufacturing plants, 10 including our joint venture in Alabama that began production in September 2021.

To help inspire the next generation for a career in STEM-based fields, including mobility, Toyota launched its virtual education hub at www.TourToyota.com with an immersive experience and chance to visit many of our U.S. manufacturing facilities. The hub also includes a series of free STEM-based lessons and curriculum through Toyota USA Foundation partners, virtual field trips and more. For more information about Toyota, visit www.toyotanewsroom.com.

Media Contact:
Aaron Fowles
310-561-2321
Aaron.Fowles@Toyota.com

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SOURCE Toyota Motor North America

FAQ

What is the investment amount for Toyota's new battery plant in North Carolina?

The investment amount for Toyota's new battery plant in North Carolina is $1.29 billion.

When will Toyota's battery manufacturing plant in North Carolina become operational?

Toyota's battery manufacturing plant in North Carolina is set to begin operations in 2025.

How many jobs will Toyota's new battery plant create?

The new battery plant is expected to create 1,750 jobs in North Carolina.

What is the production capacity of Toyota's new battery plant?

The plant will initially have four production lines, capable of producing batteries for up to 200,000 vehicles each, with plans to expand to six lines for a total of 1.2 million vehicles per year.

What commitment has Toyota made regarding energy use at the new facility?

Toyota is committed to using 100% renewable energy at the new battery manufacturing facility.