Toyota Motor Corporation (TM) hit a significant milestone Wednesday when it officially started cranking out batteries at its new Liberty, North Carolina facility. It's the company's first battery plant outside Japan and marks another expansion of Toyota's American footprint, which now includes eleven production sites across the country.
Doubling Down on American Manufacturing
The battery plant opening comes with a pretty substantial announcement: Toyota plans to drop up to $10 billion more into U.S. manufacturing and future mobility projects over the next five years. That pushes the company's total American investment to nearly $60 billion since it first showed up in the U.S. market almost seven decades ago.
The Liberty plant itself represents a nearly $14 billion bet on domestic battery production. When fully staffed, it'll create up to 5,100 jobs in the Piedmont Triad region, an area with deep roots in manufacturing and transportation. Local officials are calling it a turning point for the community.
What They're Building
Spread across 1,850 acres, the facility will manufacture lithium-ion battery packs for hybrid, plug-in hybrid, and battery-electric vehicles. The plant is designed to eventually run 14 production lines with an annual capacity of 30 GWh. Toyota says it's already shipping hybrid battery modules to its Kentucky and Alabama factories, with additional production lines scheduled to come online by 2030.
The batteries will power some of Toyota's most popular models: the Camry HEV, Corolla Cross HEV, RAV4 HEV, plus a new three-row electric SUV that's slated for U.S. production. Beyond the manufacturing floor, the company is building out childcare facilities, a clinic, and wellness resources for workers.
Executive and Political Support
"Today's launch of Toyota's first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company's history," said Ted Ogawa, chief executive of Toyota Motor North America. He emphasized the company's push to expand electrification options for American drivers.
The announcement drew political praise as well. U.S. Secretary of Transportation Sean Duffy connected the investment to efforts to bring critical industries back to American soil. "Under President Donald Trump's leadership, America is open for business," Duffy said at the event.
Community Investment
State and local leaders credited Toyota for its commitment to STEM education and workforce development programs. The Toyota USA Foundation announced another $2.7 million to expand its Driving Possibilities program in two North Carolina school districts.
U.S. Rep. Richard Hudson (R-NC) called the project "great news" for workers and North Carolina's growing automotive supply chain. State legislative leaders said the partnership shows confidence in the state's workforce and business environment.
Price Action: TM shares were trading higher by 0.82% to $207.68 at last check Wednesday.