RALEIGH, N.C. — Toyota will invest an additional $8 billion in the hybrid and electric vehicle battery factory it's constructing in North Carolina, more than doubling its prior investments and expected number of new jobs, the company announced Tuesday.
“North Carolina’s transition to a clean energy economy is bringing better paying jobs that will support our families and communities for decades to come,” said Democratic Gov. Roy Cooper, who recently returned from a trip to Tokyo where he met with Toyota's president, Koji Sato. The U.S. still relies on international markets to mine and process most raw materials needed to make lithium-ion batteries. But the nation has been working to shore up production after a backlog in the global supply of computer chips — another essential component of electric vehicles — led several American automakers to shut down their production lines at the height of the COVID-19 pandemic.
Republican state Senate leader Phil Berger called the company's latest investment monumental. The plant is expected to breathe new life into the Greensboro-area economy, which never fully recovered after its textile industry dried up at the turn of the century.
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