Toyota Opens US Battery Plant, Plans $10 Billion in New Investments

A Toyota logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, on March 27, 2024. David Dee Delgado/ReutersFour years and nearly $14 billion after construction began in 2021, Toyota announced on Nov. 12 that its massive 7-million-square-foot lithium-ion battery manufacturing facility in Liberty, North Carolina, has entered production, and that it will invest an additional $10 billion over the next five years in U.S. manufacturing facilities.The facility on 1,850 acres in rural Randolph County, about 20 miles southeast of Greensboro, is Toyota’s first battery production facility outside of Japan, the company said. It has 14 total battery production lines, including 10 battery electric vehicle (EV) lines and four hybrid electric vehicle lines, and Toyota said it will add more production lines at the Liberty battery plant by the year 2030.