Toyota Adds $8B Investment To N.C. Battery Manufacturing Project

Toyota’s first North American electric vehicle battery manufacturing facility will bring an $8 billion investment and 3,000 jobs to North Carolina.

The site in Liberty, North Carolina, is part of the Toyota Battery Manufacturing North Carolina (TBMNC) Project, which was first announced in 2021.

Toyota
(Photo: Adobe Stock/MaxSafaniuk)

Christopher Chung, CEO of the Economic Development Partnership of North Carolina, said the latest announcement validates North Carolina as a hub for innovation and “top location” for EV manufacturers and suppliers.

“Japanese investment has a significant impact in our state, with more than 28,000 North Carolinians going to work for Japanese companies every day,” Chung said. “We value and appreciate the ongoing partnership our state has with Japan and the economic impact this partnership will continue to have.”

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North Carolina Governor Roy Cooper said the state’s partnership with Toyota has grown in recent years.

“Through the last few years of building relationships, including my most recent trip to Tokyo and meeting with President Sato, our partnership with Toyota has become stronger than ever, culminating in this historic announcement,” Cooper said. “North Carolina’s transition to a clean energy economy is bringing better paying jobs that will support our families and communities for decades to come.”

Batteries for hybrid electric vehicles and battery electric vehicles will be produced at the facility — located on a 1,825-acre site — using 100% renewable energy.

The TBMNC Project began as a $1.29 billion investment, according to the Economic Development Partnership of North Carolina. Expansions were later announced in 2022 and 2023. It’s now valued at $13.9 billion, expected to create more than 5,000, and should open in 2025, according to the EDPNC.

Check out all the latest news related to North Carolina economic development, corporate relocation, corporate expansion, and site selection.

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