In 2021, Toyota announced that it would be establishing a manufacturing facility in Liberty, North Carolina, investing $1.29 billion in the factory to create two battery manufacturing lines. Now, it will invest another $8 billion in order to eventually have 10 battery lines up and running. “Today’s announcement reinforces Toyota’s commitment to electrification and carbon reduction, bringing jobs and future economic growth to the region,” said Sean Suggs, president of Toyota North Carolina.
When the plant was first announced, the company's CEO was Akio Toyoda, and it was noted for its skepticism towards all-electric vehicles. Earlier this year, Toyoda was succeeded by Koji Sato, who has made EVs a bigger part of the Toyota puzzle. Even under Sato, growth and investments can't happen all at once. Toyota plans to increase production with a phased approach that will take several years. By 2030, the Japanese carmaker wants to reach an annual production of more than 30 GWh.
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