Hyperdrive
Toyota Adds $8 Billion to US Battery Plant for Hybrids, EVs
- Facility near Greeensboro will employ more than 5,000 workers
- Japanese automaker expands production for US-made hybrids, EVs
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Toyota Motor Corp. is more than doubling its investment in a Greensboro, North Carolina-area plant to make batteries for fully electric and plug-in hybrid models, a sign the Japanese carmaker expects US demand for those vehicles to grow.
Production at the new plant, which is under construction, will be expanded by eight battery manufacturing lines in addition to the previously announced two lines, bringing Toyota’s total spending on the facility to $13.9 billion, it said Tuesday in a statement.