Toyota’s $1.29 Billion Electric Vehicle Battery Plant

Toyota Motor North America has announced plans to build a $1.29 billion electric vehicle (EV) battery manufacturing facility on the 1,825-acre Greensboro-Randolph Megasite, a KPMG-certified, shovel-ready site with the ideal combination of strategic location, world-class workforce, and unrivaled transportation infrastructure.

North Carolina plays host to the global headquarters of many different top lithium firms including the world’s leading supplier of lithium to the electric vehicle battery industry, the largest known hard rock lithium (spodumene) deposit in the United States, and the largest concentration of advanced lithium processing experts outside of China. A combination of these factors make it fitting location for companies entering and operating in the EV ecosystem.

“It’s tremendous that Toyota has selected North Carolina for such an important part of its electric vehicle future, creating good-paying jobs and moving us toward a healthier environment,” Governor Roy Cooper said. “It’s clear the world is beginning to embrace a clean energy future and today’s decision puts North Carolina front and center.”

North Carolina is home to well over 260 automotive suppliers and manufacturers, including Thomas Built Buses and Arrival, which are already producing electric vehicles in the state.

With EV sales expected to grow at a compounded annual rate of 22% per year in the world’s major car markets until 2030, the state is well positioned to contribute to and gain from the demand for EVs.