Distributed Energy Resources, Industrial - December 8, 2021
Toyota Plans New Automotive Battery Plant
Toyota Motor North America’s executives announced the company chose Greensboro-Randolph Megasite as the location for Toyota’s new $1.29 billion automotive battery manufacturing plant.
The plant is named the Toyota Battery Manufacturing, North Carolina (TBMNC) and is expected to come online in 2025 with four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles. The automaker intends to expand to at least six production lines for a 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 $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 in a statement. “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.”
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.