Toyota Motor North America is building a $1.29 billion electric vehicle (EV) battery production facility at the 1,825-acre Greensboro-Randolph Megasite.
The new venture company will be known as Toyota Battery Manufacturing, North Carolina (TBMNC) and will be led by a new venture between Toyota and Toyota Tsusho Corp., the trading arm of the Toyota Group.
“It’s tremendous that Toyota has selected North Carolina for such an important part of its electric vehicle future, creating good paying jobs and moving us toward a healthier environment,” says Gov. Roy Cooper. “It’s clear the world is beginning to embrace a clean energy future and today’s decision puts North Carolina front and center.”
In addition to Thomas Built Buses and Arrival – who are already manufacturing EVs in the state – North Carolina is home to more than 260 automotive suppliers and manufacturers.
“We couldn’t think of a better location for this new battery plant than North Carolina,” said Chris Reynolds, Executive Vice President, Corporate Resources, Toyota Motor North America. “We chose North Carolina for several reasons, including its extensive and well-maintained infrastructure, four international airports and two seaports, its consistent ranking as one of the top states to do business, its world-class education system and, importantly, its outstanding and diverse workforce.”
The plant will come online in 2025, and have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles —with the intention to expand to at least six production lines for a combined total of up to 1.2 million vehicles per year.
“Toyota’s announcement is recognition of the central role that North Carolina is poised to play in the global shift toward electric vehicles, and marks an important milestone in the state’s commitment to growing the clean energy economy,” states Christopher Chung, CE of the Economic Development Partnership of North Carolina.
“The North Carolina team has had ongoing conversations with Toyota since they first reviewed the Greensboro-Randolph Megasite several years ago, and this longstanding relationship, coupled with a business-friendly environment and a history of automotive engineering excellence were instrumental in the state’s election for this transformative project that will have lasting community and economic impact on our state,” adds Chung.
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of N.C. on this project were the North Carolina General Assembly, Greensboro Chamber of Commerce, Piedmont Triad Partnership, North Carolina Railroad Company and Greensboro-Randolph Megasite Foundation.