TOYOTA OPENS US BATTERY PLANT, CONFIRMS $10 BILLION INVESTMENT PLAN

Toyota Motor said on Wednesday it had begun production at its $13.9 billion North Carolina battery plant as it ramps up hybrid production and confirmed plans to invest $10 billion over five years in U.S. manufacturing.

The Japanese automaker first announced the plan in December 2021 to produce batteries for its hybrid and electric vehicles. Batteries from the plant are set to power hybrid versions of the Camry, Corolla Cross, RAV4 and a yet-to-be-announced all-electric three-row battery electric vehicle. The plant is producing hybrid batteries for factories in Kentucky and a Mazda Toyota joint venture in Alabama.

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