Toyota opens new U.S. battery plant, confirms $10 billion in new investments

Toyota Motor connected Wednesday said it has started accumulation astatine a caller $13.9 cardinal artillery plant successful North Carolina and confirmed plans to put up to $10 cardinal much than antecedently expected implicit the adjacent 5 years successful the United States.

The Japanese automaker did not merchandise details astir the accrued concern different than Toyota Motor North America CEO Tetsuo Ogawa calling it a "pivotal moment" successful the company's past on with the caller artillery plant, according to a release.

The installation is Toyota's archetypal in-house artillery works extracurricular of Japan. It was first announced successful December 2021 amid the Biden administration's propulsion to onshore accumulation of batteries for hybrids and all-electric vehicles.

Since then, marketplace conditions for EVs person soured, portion request for hybrids continues to turn exponentially. Those changes are affirmative for Toyota, which is the U.S. person successful hybrid income with a much than 51% marketplace stock done the 3rd 4th of this year, according to Motor Intelligence data.

It's unclear however overmuch of the concern was already planned but not made antecedently public, but the announcement follows President Donald Trump past period saying Toyota would put $10 billion successful the U.S.

Toyota and the full automotive manufacture person been attempting to navigate accumulation plans amid regulatory changes impacting EVs and Trump's litany of tariffs connected caller vehicles and parts.

Toyota's U.S. income done the 3rd 4th of this twelvemonth were up 9.9% to much than 1.3 cardinal vehicles sold.