Hyperdrive
Toyota Chooses North Carolina for First U.S. Battery Plant
- Japanese carmaker to invest $1.29 billion in intial phase
- Latest battery site part of carmaker push to electrify fleets
Photographer: Akio Kon/Bloomberg
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Toyota Motor Corp. will break ground on its first battery factory in the U.S. at a mega-site in North Carolina, joining an industrywide push as automakers accelerate efforts to electrify their fleets.
The Japanese company will invest $1.29 billion in the automotive battery manufacturing facility, which is scheduled to start production in 2025, the company said Monday. It is the latest in a slew of announcements by major automakers in recent months to ramp up capacity to manufacture batteries for a coming wave of electric vehicles.