{"id":1004688294,"date":"2023-11-01T04:13:47","date_gmt":"2023-11-01T12:13:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004688294"},"modified":"2023-11-02T01:49:46","modified_gmt":"2023-11-02T09:49:46","slug":"toyota-boosts-ev-battery-plant-investment-to-14b","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/","title":{"rendered":"Toyota Boosts EV Battery Plant Investment to $14B"},"content":{"rendered":"
\"Construction<\/a>

Construction work at Toyota\u2019s 1,825-acre EV battery manufacturing campus in Liberty, N.C. Image courtesy of Toyota<\/em><\/p><\/div>\n

Toyota<\/strong> is accelerating its plans at its North Carolina EV battery manufacturing plant with a new $8 billion investment that will boost the global automaker\u2019s overall investment in the Triad region to nearly $14 billion, add 3,000 jobs for more than 5,000 total jobs and create a 7 million-square-foot campus equal to 121 football fields.<\/p>\n

The increased investment solidifies Toyota North Carolina\u2019s position as the company\u2019s epicenter of lithium-ion battery production in North America, according to the Japanese-based automaker.<\/p>\n

Located on 1,825 acres near Greensboro, N.C., the plant is expected to be completed in 2025. Known as Toyota Battery Manufacturing North Carolina (TBMNC), the plant will produce batteries for plug-in hybrid electric vehicles and battery electric vehicles using 100 percent renewable energy.<\/p>\n

The facility further supports Toyota\u2019s multi-pathway approach to global vehicle electrification as it plans to roll out 30 BEV models by 2030. A pioneer in EVs, Toyota has built more than 24.6 million hybrid, plug-in hybrid, fuel cell and battery electric vehicles. By 2025, the company plans to have an electrified option for every Toyota and Lexus model globally.<\/p>\n

\n

READ ALSO<\/strong>: Multistory Warehouses\u2019 Future Is Looking Up<\/a><\/p>\n

\n

This is the third expansion announced at the megasite in Liberty, N.C., since Toyota first unveiled a $1.3 billion investment in 2021 that would create 1,750 jobs. In August 2022, Toyota said it would add another $2.5 billion investment and generate 350 more jobs. Another $2.1 billion investment at the plant was announced in May.<\/p>\n

The investment announced Tuesday adds eight battery production lines for a total of 10 BEV\/PHEV battery lines. The plant will also have four battery lines for hybrid electric vehicles (HEVs). Production will be phased in with line launches planned through 2030 to reach a total production of more than 30GWh annually.<\/p>\n

NC industrial sector growing<\/strong><\/h2>\n

North Carolina has seen significant investments made by the EV industry in the last three years, according to the Economic Development Partnership of North Carolina. Totaling about $11 billion, other developments include a $4 billion investment from VinFast,<\/strong> a Vietnam-based EV manufacturer that chose Chatham County<\/a> for its first North American auto assembly and battery manufacturing plant in July 2022 and Epsilon Advanced Materials<\/strong> of India that will build a $650 million graphite anode manufacturing facility in Brunswick County<\/a>.<\/p>\n

\u201cToyota\u2019s decision to not only build its first North American battery plant in North Carolina, but to continue to invest in the state, validates North Carolina as a hub for electric vehicle innovation,\u201d Christopher Chung, CEO of the Economic Development Partnership of North Carolina, told Commercial Property Executive<\/em>. \u201cInvestments such as Toyota\u2019s also attract companies in the automotive and EV supply chain. In fact, North Carolina is home to 20 of the top 100 Original Equipment Manufacturer suppliers, and global silicon carbide manufacturer Wolfspeed is investing $5 billion in its new semiconductor manufacturing plant in the state. Add in North Carolina\u2019s highly educated workforce and workforce development programs that can meet companies\u2019 needs, the state\u2019s EV industry will continue to grow.\u201d<\/p>\n

NAI Piedmont Triad<\/strong>, a Greensboro-based brokerage firm, said in its Triad North Carolina third-quarter industrial market report that industrial space in Greensboro is now leasing at the fastest pace on record as users seek out \u201crelatively affordable, and limited, space along the region\u2019s coveted transportation corridors.\u201d NAI Piedmont Triad points to a combination of post-pandemic trends, business-friendly environment and legislative packages such as the Inflation Reduction Act<\/a> for fueling the region\u2019s industrial space surge over the past three years. The firm noted demand outweighed supply in the third quarter for the fourth consecutive quarter and time properties remained on the market had declined for three consecutive quarters.<\/p>\n

NAI Piedmont Triad said in the report the wave of demand has led to a \u201cflurry of speculative industrial construction as developers look to capitalize on users\u2019 rising interest in the market.\u201d In the third quarter there were 3.9 million square feet of industrial space under construction and 1.4 million square feet of industrial space that had been completed.<\/p>\n

The report states industrial activity will likely continue moving further into the region\u2019s more rural areas, like Randolph County where the Toyota site is located, as availability of larger sites and existing stock grow scarcer in Greensboro. Winston-Salem, N.C., and High Point, N.C., also part of the Piedmont Triad, will also likely continue to experience similar activity as Greensboro\u2019s market tightens.<\/p>\n","protected":false},"excerpt":{"rendered":"

An $8 billion capital infusion will expand the company\u2019s campus in North Carolina.<\/p>\n","protected":false},"author":1068,"featured_media":1004688400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,21742,32781],"tags":[34984],"class_list":["post-1004688294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-latest","category-southeast","tag-toyota-motor-corporation"],"acf":[],"yoast_head":"\nToyota Boosts EV Battery Plant Investment to $14B - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Toyota is accelerating its plans at the North Carolina EV battery manufacturing plant in the Triad region with a new $8 billion investment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Toyota Boosts EV Battery Plant Investment to $14B\" \/>\n<meta property=\"og:description\" content=\"Toyota is accelerating its plans at the North Carolina EV battery manufacturing plant in the Triad region with a new $8 billion investment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-01T12:13:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T09:49:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/\",\"name\":\"Toyota Boosts EV Battery Plant Investment to $14B - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg\",\"datePublished\":\"2023-11-01T12:13:47+00:00\",\"dateModified\":\"2023-11-02T09:49:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"Toyota is accelerating its plans at the North Carolina EV battery manufacturing plant in the Triad region with a new $8 billion investment.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg\",\"width\":801,\"height\":600,\"caption\":\"Construction work at Toyota\u2019s 1,825-acre EV battery manufacturing campus in Liberty, N.C. Image courtesy of Toyota\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Toyota Boosts EV Battery Plant Investment to $14B\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Toyota Boosts EV Battery Plant Investment to $14B - Commercial Property Executive","description":"Toyota is accelerating its plans at the North Carolina EV battery manufacturing plant in the Triad region with a new $8 billion investment.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/","og_locale":"en_US","og_type":"article","og_title":"Toyota Boosts EV Battery Plant Investment to $14B","og_description":"Toyota is accelerating its plans at the North Carolina EV battery manufacturing plant in the Triad region with a new $8 billion investment.","og_url":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-11-01T12:13:47+00:00","article_modified_time":"2023-11-02T09:49:46+00:00","og_image":[{"width":801,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/","url":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/","name":"Toyota Boosts EV Battery Plant Investment to $14B - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg","datePublished":"2023-11-01T12:13:47+00:00","dateModified":"2023-11-02T09:49:46+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"description":"Toyota is accelerating its plans at the North Carolina EV battery manufacturing plant in the Triad region with a new $8 billion investment.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg","width":801,"height":600,"caption":"Construction work at Toyota\u2019s 1,825-acre EV battery manufacturing campus in Liberty, N.C. Image courtesy of Toyota"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/toyota-boosts-ev-battery-plant-investment-to-14b\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Toyota Boosts EV Battery Plant Investment to $14B"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Construction-work-at-Toyota-North-Carolina.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004688294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004688294"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004688294\/revisions"}],"predecessor-version":[{"id":1004688590,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004688294\/revisions\/1004688590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004688400"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004688294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004688294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004688294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}