Toyota Begins Battery Production in North Carolina and Increases U.S. Investment Plans
Toyota has started production at its new battery manufacturing plant in Liberty, North Carolina. The facility represents an investment of $13.9 billion, making it a significant step in Toyota's efforts to expand electric and hybrid vehicle offerings in the United States.
Alongside the plant opening, Toyota confirmed it plans to invest up to $10 billion more in the United States over the next five years. This commitment is higher than the company had previously announced.
Toyota is using this new facility and increased investment to support its strategy of providing more hybrid and electric vehicles to American consumers. The company also mentioned making contributions to local education, including $2.7 million in grants to local schools.
The plant will help Toyota produce more batteries for hybrid and electric vehicles in the U.S., supporting its plan to offer more of these vehicles to American buyers.
Toyota is investing $13.9 billion in the new battery plant and plans up to $10 billion in additional U.S. investments over five years.
Toyota plans to support local schools with $2.7 million in education grants as part of its contribution to the community.
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