Toyota has announced a substantial $8 billion investment to expand its electric vehicle battery manufacturing facility in Randolph County, North Carolina. This new investment brings Toyota’s total commitment to the site to $13.9 billion. With this expansion, more than 5,000 new jobs will be created, strengthening the local economy. This development follows a recent meeting between Governor Roy Cooper and Toyota President Koji Sato during the SEUS/Japan Conference in Tokyo, further solidifying the partnership between the state and the company.
Governor Cooper Celebrates North Carolina’s Growing Partnership with Toyota
Governor Roy Cooper highlighted the strengthened partnership between North Carolina and Toyota, noting that his recent trip to Tokyo was instrumental in advancing this investment. Cooper emphasized that the expansion is part of the state’s broader strategy to transition to a clean energy economy. He expressed confidence that this would lead to higher-paying jobs and long-term benefits for North Carolina’s communities and families.
North Carolina Commerce Secretary Machelle Baker Sanders praised the investment as evidence of the state’s leadership in the electric vehicle sector. She stressed that aligning economic development with workforce development is crucial for meeting the needs of high-growth industries like electric vehicles and clean energy. This investment further supports North Carolina’s position as a top state for business and manufacturing.
Toyota’s Expanded Plans to Increase EV Battery Production Capacity
The expanded investment will allow Toyota to significantly increase its electric vehicle battery production capacity. In addition to producing batteries for electric vehicles, the site will now also produce batteries for plug-in hybrid vehicles. The investment will add eight production lines to the two lines initially planned, signaling Toyota’s commitment to meeting the growing demand for electrified vehicles.
Governor Cooper’s focus on building relationships with Japanese companies has resulted in substantial investments in North Carolina. His continued engagement with leaders like Toyota has attracted billions in investments and thousands of jobs in high-growth industries, including electric vehicles, aerospace, and biotechnology.
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