Dec. 07, 2021

Toyota Selects North Carolina for New U.S. Automotive Battery PlantPlant is first to produce automotive batteries for Toyota in North America, enough battery packs for 1.2 million electrified vehicles per year

Toyota City, Japan―(Dec. 7, 2021)―Toyota Motor North America announced today that North Carolina Greensboro-Randolph Megasite has been chosen as the location for Toyota's new $1.29 billion automotive battery manufacturing plant, to be named, Toyota Battery Manufacturing, North Carolina (TBMNC).

When it comes online in 2025, TBMNC will have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles―with the intention to expand to at least six production lines for a combined total of up to 1.2 million vehicles per year.

The $1.29 billion investment, including funds to develop land and facilities, made by Toyota and Toyota Tsusho will be partially funded from a total investment of approximately $3.4 billion previously announced on October 18, which did not include funds for developing land and facilities, and is expected to create 1,750 new American jobs.

"The future of mobility is electrification and the Greensboro-Randolph Megasite is the ideal location to make that future a reality," said Ted Ogawa, CEO of Toyota Motor North America. "North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business. Today marks the beginning of a mutually beneficial partnership with the Tar Heel state as we embark on our journey to achieve carbon neutrality and provide mobility for all."

In addition, as the company continues its efforts to reach carbon neutrality for its vehicles and operations by 2050, Toyota is committed to using 100% renewable energy at this new facility to produce the batteries.

New Company Overview

Company Name	Toyota Battery Manufacturing, North Carolina
Established	November 2021
Representative	Norm Bafunno (interim)
Shareholders	TMNA (90%) and Toyota Tsusho (10%)
No. of Employees	1,750 (planned)
Capital	$468M (excluding equipment costs)
Business areas	Automotive battery manufacturing for electrified vehicles (Initially focusing on hybrid electric vehicles)

"Achieving zero, and adding new value beyond it"

As part of efforts to pass our beautiful "Home Planet" to the next generation, Toyota has identified and is helping to solve issues faced by individuals and overall society, which Toyota calls "Achieving Zero," hoping to help reduce the negative impacts caused by these issues to people and the environment to zero. Additionally, Toyota is also looking "Beyond Zero" to create and provide greater value by continuing to diligently seek ways to improve lives and society for the future.

About Beyond Zero: https://global.toyota/en/mobility/beyond-zero/

Toyota Motor Corporation works to develop and manufacture innovative, safe and high-quality products and services that create happiness by providing mobility for all. We believe that true achievement comes from supporting our customers, partners, employees, and the communities in which we operate. Since our founding over 80 years ago in 1937, we have applied our Guiding Principles in pursuit of a safer, greener and more inclusive society. Today, as we transform into a mobility company developing connected, automated, shared and electrified technologies, we also remain true to our Guiding Principles and many of the United Nations' Sustainable Development Goals to help realize an ever-better world, where everyone is free to move.