Toyota Plans Extra $10B Investment in U.S. Over 5 Years

Over the period of the next five years, Toyota Company is going to make an investment of up to 10 billion USD in the USA. Consequently, the sum of company’s total investment in the U.S. will reach almost 60 billion USD long after the company started its operations in the U.S. nearly 70 years ago.

At the same time, Toyota held an opening ceremony for Toyota Battery Manufacturing in North Carolina, or TBMNC. The facility was established in November 2021 and is Toyota’s first in-house battery manufacturing plant outside Japan. It has now officially started production. The plant is the company’s 11th manufacturing facility in the U.S. and represents nearly 14 billion USD in investment. It will create up to 5,100 new jobs.

The battery plant is part of Toyota’s approach to being the best company in town. The company’s strategy is to make an investment in the local area, to set up local production, to give the community a hand, and to create goods that meet local requirements.

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Toyota Motor’s workforce in the U.S. amounts to approximately 50,000 workers. For more than 35 million vehicles, its 11 manufacturing plants have been involved in the development and production processes. This new investment and the battery plant show Toyota’s focus on strengthening its U.S. operations and building local capabilities for the future.