Toyota Motor Corporation has announced plans to invest up to $10 billion more in its United States operations over the next five years. This move will bring Toyota’s total investment in the U.S. close to $60 billion since it began operating there nearly 70 years ago.
The announcement coincided with the opening ceremony of Toyota Battery Manufacturing, North Carolina (TBMNC), which is now officially starting production. TBMNC is Toyota’s first battery manufacturing facility outside Japan and marks the company’s 11th manufacturing plant in the U.S. The facility represents an investment of nearly $14 billion and is expected to create up to 5,100 new jobs.
This new battery plant aligns with Toyota’s strategy of investing and producing locally, supporting local communities, and offering products tailored to regional needs through a multi-pathway approach. In the United States, Toyota employs about 50,000 people and has produced more than 35 million vehicles across its plants.
Tetsuo Ogawa, president and chief executive officer of Toyota Motor North America, said: “Today’s launch of Toyota’s first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company’s history. Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers.”
Toyota stated that it aims to develop innovative products that support mobility for all while adhering to its founding principles focused on safety, sustainability, and inclusivity since 1937. The company also noted its ongoing efforts toward sustainable development goals as part of its transformation into a mobility company focusing on connected, automated, shared, and electrified technologies.
More information about Toyota’s sustainability initiatives can be found at https://global.toyota/en/sustainability/sdgs/.
