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US: Toyota increases investments in its battery factory

US: Toyota increases investments in its battery factory

Total investment for Toyota’s battery plant in North Carolina, USA has risen to $13.9 billion. This equates to around 13.16 billion euros.

The money will be used to build eight additional production lines for BEV and PHEV batteries. According to Toyota, there are still only four planned production lines for batteries for hybrid vehicles. By 2030, Toyota wants to reach more than 30 GWh per year of battery production in North Carolina.

“With today’s announcement, Toyota North Carolina solidifies its position as the center of lithium-ion battery production in North America. In total, the campus will cover seven million square meters, the equivalent of 121 football fields,” the car manufacturer wrote in its press release.

Toyota did not comment on the start of production. When the manufacturer first revealed its plans in 2021, there was talk of starting production in 2025 – but initially only for hybrid vehicles.

Toyota Motor North America recently announced that it has received cathode materials from LG Chem for its North Carolina plant. Deliveries are expected to begin in 2025, underlining a 2021 date for Toyota’s planned opening date for the factory.

Toyota built the factory in partnership with Toyota Tsusho. At that time, the planned investment was still 1.29 billion dollars, which was equivalent to about 1.1 billion euros at the time. At today’s conversion, that’s about 1.2 billion euros.

Commenting on the U.S. plans, Sean Suggs, president of Toyota North Carolina, said: “Today’s announcement underscores Toyota’s commitment to electric mobility and the reduction of carbon emissions, job creation and future economic growth. We are delighted with the continued enthusiasm for this innovative work.

In addition to self-manufactured batteries, Toyota will also purchase batteries from LGES. Beginning in 2025, LGES is expected to annually supply battery modules with a total capacity of 20 gigawatt hours, containing NCMA bi cells with high nickel content, that Toyota will install in new electric cars manufactured in the United States. Toyota will produce its first BEV model in the US starting in 2025: an SUV with three rows of seats, rolling off the assembly line in Kentucky.