Toyota Pledges $10 Billion Investment in American Factories, Boosting EV Production

Toyota Motor announced Wednesday that it will invest up to $10 billion over the next five years to strengthen its US manufacturing operations and boost electric vehicle (EV) production.

The move marks one of the company's largest financial commitments to American factories in its history.

The Japanese automaker confirmed that production has officially begun at its $14 billion electric vehicle battery plant in Liberty, North Carolina, which is expected to create more than 5,000 new jobs.

The North Carolina site is Toyota's first battery production facility outside Japan and will serve as a major hub for the company's EV and hybrid ambitions.

"Today's launch of Toyota's first US battery plant and additional US investment up to $10 billion marks a pivotal moment in our company's history," said Ted Ogawa, CEO of Toyota Motor North America.

"Toyota is a pioneer in electrified vehicles, and this investment strengthens our commitment to our team members, customers, and communities."

According to CBS News, the new facility will produce batteries for several Toyota models, including the Camry Hybrid (HEV), Corolla Cross HEV, and RAV4 HEV, as well as a new all-electric three-row SUV yet to be announced.

The plant will also supply batteries to Toyota's factories in Kentucky and its joint venture plant with Mazda in Alabama.

Toyota Invests $60B in US Production

Beyond production, the company said the site will feature worker-friendly amenities such as on-site childcare, a pharmacy, a medical clinic, and a fitness center.

Once fully operational, the factory will have 14 battery production lines and generate 30 gigawatt-hours (GWh) annually.

Toyota, which began producing vehicles in the US in the 1970s, has now invested a total of over $60 billion in its American operations, Reuters reported.

The company's decision aligns with growing efforts to strengthen domestic manufacturing amid shifting federal policies.

US Transportation Secretary Sean Duffy praised Toyota's investment, calling it a strong sign of confidence in America's manufacturing sector. "Toyota's expansion in North Carolina shows how we can bring jobs home, boost our economy, and strengthen our industrial base," he said in a statement.

Toyota's announcement follows remarks by former President Donald Trump, who recently noted that the automaker would commit $10 billion to expand its US presence.

The Trump administration has emphasized reviving domestic manufacturing by imposing tariffs and revising trade policies affecting the auto sector.

Ogawa said the company remains focused on a "multi-pathway approach," offering gas engines, hybrids, plug-in hybrids, and full EVs.

Originally published on vcpost.com