Toyota has announced an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina (TBMNC). This investment adds capacity to support battery electric vehicle (BEV) battery production and adds 350 jobs, bringing the total employment to approximately 2,100. Scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles (HEV) and BEVs.

Last year, Toyota announced a global investment of approximately $70 billion for electrification efforts. As part of this aspirational goal, the company has announced a future battery production commitment of up to $5.6 billion, which includes the new North Carolina investment.

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