Toyota USA will invest billions of dollars into a new automotive battery plant in North Carolina — a project that amounts to the largest capital investment in state history, sources told ABC11 on Monday.
The lithium battery manufacturing plant will be built at the 1,800-acre plot called the Greensboro-Randolph Megasite, which is located in Randolph County near US 421. Gov. Roy Cooper formally welcomed Toyota at a Monday afternoon news conference…
In an October announcement, Toyota said it would invest approximately $3.4 billion in automotive batteries in the United States through 2030. Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of approximately $13.5 billion (1.5 trillion yen) set aside for investment in battery development and production announced last month by Toyota Motor Corporation.