NEWS ALERT: Foreign car giant invests over $13,000,000,000 in first-of-it’s kind investment

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FROM FOX BUSINESS: Toyota announced Wednesday it has officially begun production at its new $13.9 billion battery manufacturing plant in North Carolina, while committing an additional $10 billion to bolster its U.S. manufacturing over the next five years.

The 1,850-acre facility in Liberty, North Carolina, marks the automaker’s first battery plant outside Japan and is expected to create up to 5,100 new American jobs, Toyota said.

Alongside the plant’s launch, Toyota announced an additional $10 billion investment in its U.S. operations over the next five years to “support future mobility efforts.”


“Today’s launch of Toyota’s first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company’s history,” said Ted Ogawa, CEO of Toyota Motor North America. “Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers.”

“This will bring the company’s total U.S. investment to nearly $60 billion since beginning operations here nearly 70 years ago.”

The North Carolina plant will eventually produce 30 gigawatt-hours of lithium-ion batteries annually. They will be used in Toyota’s hybrid, plug-in hybrid, and fully electric vehicles.

READ MORE AT FOX BUSINESS

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