Hyperdrive
Toyota Eyes North Carolina Site for First U.S. Battery Plant
- Carmaker is expected to partner with Panasonic at facility
- Project is part of $3.4 billion investment vowed through 2030
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Toyota Motor Corp. is planning to invest billions of dollars in a battery plant to be built on the outskirts of Greensboro, North Carolina, as part of the automaker’s efforts to ramp up output of electrified vehicles in the U.S., according to people familiar with the matter.
The car manufacturer hasn’t made a final decision, but is expected to partner with Panasonic Corp. at the facility, said some of the people, who declined to be named as the discussions are private. No formal commitment has been made and the plan could still evolve, these people said.