The new battery plant, which is currently under construction, will receive an additional $2.1 billion investment to support future expansion in the company’s drive toward carbon neutrality. This brings 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 electrified vehicles. Production at the Liberty plant is slated to begin in 2025 with six battery production lines, four for hybrid electric vehicles and two for BEVs.
Over the last two years, the company has invested more than $8 billion in its US manufacturing operations primarily to support its product electrification efforts.