Toyota says it will build a $1.3 billion electric vehicle battery plant in North Carolina. By 2030, Toyota plans to sell up to 1.8 million vehicles in the U.S. that are at least partly battery-powered.
North Carolina Gov. Roy Cooper smiles as Toyota Motor Administrative Officer Chris Reynolds, left, stands with him to celebrate their new partnership during an announcement of the future site of a new Toyota battery manufacturing plant in Liberty, N.C., Monday, Dec. 6, 2021.
Initially, Toyota will or could receive well over $430 million in cash incentives, tax breaks and infrastructure upgrades from the state of North Carolina and local governments if it meets job creation and investment goals, according to officials and documents.The announcement marks a massive accomplishment for the Greensboro-area economy, which is still looking for replacement jobs after the region’s generations-old textile industry shriveled in the 1990s and 2000s.
The plant is part of $3.4 billion that Toyota plans to spend in the U.S. on automotive batteries during the next decade. It didn’t detail where the remaining $2.1 billion would be spent, but part of that likely will go for another battery factory. “North Carolina offers the right conditions for this investment, including the infrastructure, high quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business,” Toyota Motor North America CEO Ted Ogawa said in a news release.The jobs, which are expected to be created by 2029, will have average salaries of more than $62,000, according to economic development officials.
Currently in the U.S., Toyota offers hydrogen vehicles, hybrids and plug-in hybrid powertrains, but no vehicles powered solely by batteries. That has drawn criticism from environmental groups that accuse the company of dragging its feet on the technology. Toyota says it will have 15 battery electric vehicles for sale globally by 2025.
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