As UAW strikes comes to an end, Toyota is increasing investment in electricity storage technology.
On Tuesday, October 31st, Toyota Motor announced a significant boost in its investment, increasing it by $8 billion and adding approximately 3,000 jobs at its North Carolina electric vehicle battery manufacturing plant. This move is part of Toyota’s commitment to electrify its entire lineup by 2025. The increased investment brings the total investment in the plant to around $13.9 billion and the number of jobs created to over 5,000.
Legacy automakers like Ford and General Motors have been striving to increase their electric vehicle production to catch up with market leader Tesla, but Toyota had previously focused on hybrid and hydrogen-fuel cell vehicles. However, Toyota is now shifting its strategy to embrace battery electric vehicles, aiming to commercialize advanced batteries and innovative technologies like die-casting. The North Carolina facility is expected to start operations in 2025 and will house six battery production lines to support both hybrid and battery electric vehicles. North Carolina is becoming a key hub for electric vehicle and battery manufacturing, attracting investments from various companies.
