Toyota has announced an additional investment of USD 2.5 billion in its newest North American facility Toyota Battery Manufacturing North Carolina. This investment adds capacity to support battery electric vehicle battery production and adds 350 jobs, bringing the total employment to approximately 2,100. Scheduled to begin production in 2025, the facility will produce batteries for hybrid electric vehicles and battery electric vehicles. Last year, Toyota announced a global investment of approximately USD 70 billion for electrification efforts. Now, as part of this aspirational goal, Toyota has announced a future battery production commitment of up to USD 5.6 billion, which includes the new North Carolina investment.In 2021, Toyota, in partnership with Toyota Tsusho, announced the new Liberty location with an initial investment of USD 1.29 billion for battery production and the creation of 1,750 new jobs. With this announcement, Toyota Battery Manufacturing North Carolina’s total investment is USD 3.8 billion.