Toyota has announced an additional investment in the Toyota battery plant at the Greensboro-Randolph Megasite of $2.5 billion.
In December 2021, Toyota announced it would be building its first vehicle battery plant in the US at the Greensboro-Randolph Megasite with a projected investment of $1.29 million.
This week’s announcement is that Toyota plans to invest an additional $2.5 billion in Toyota Battery Manufacturing, North Carolina, bringing the total investment to $3.8 billion. The additional investment will add 350 jobs to the initial 1,750 jobs that was announced in 2021.
With this latest announcement Toyota will invest $3.8 billion in the vehicle battery plant at the megasite and create an estimated 2,100 jobs.
The Toyota battery plant is scheduled to begin production in 2025 and will produce batteries for both battery electric vehicles and hybrid electric vehicles.
Mayor Nancy Vaughan recently said that each new job at the Toyota battery plant is projected to create five new jobs in supply chain companies, which will be located within an hour of the battery plant.
In the press release, Senior Vice President, Unit Manufacturing and Engineering at Toyota North America Norm Bafunno said, “This marks another significant milestone for our company. This plant will serve a central role in Toyota’s leadership toward a fully electrified future and will help us meet our goal of carbon neutrality in our vehicles and global operations by 2035.”
Toyota Battery Manufacturing, North Carolina President Sean Suggs said, “This is an exciting time for Toyota, the region and the many North Carolinians we will soon employ. This incremental investment reflects our continued commitment to ensuring jobs and future economic growth for the Triad region.”
Wouldn’t this be nearly tripling their initial investment?
(Initial investment was $1.29 billion. If they now plan to invest $3.8 billion, that’s almost three times the initial number).
THANKS JOHN- HOPE YOU AND MELVIN CONVERSED BOB RAPP
hmmmm, new math ??? you add 1.29 million + 2.5 billion = what???
2.629 Billion is the correct answer.
$2,501.290,000.00
2,501,900.00
2,501,900,000 is correct Sir!
I stand corrected! 2,501,290.000 is the correct answer.
$2,501,290,000.00
You’ll notice the word “Randolph” in the story title. Toyota is not stoopid. They will be located in that County.
The only thing that Nancy Vaughn helped with was the decision to locate the business in a County other than Guilford.
Everything sounds so positive . I had a contract with Jim Melvin and the Megasite in 2015 and was close August 2016. The dropped my property and broke the contract . I literally share the drive with Toyota . This has forced to deal with the NCDOT to purchase my land and put an off ramp through the middle of my house at a fraction of the price and in this insane Real estate market. In addition my well just tested positive with ecoli last Friday . I haven’t heard back Randolph County , Jim Melvin or NCDOT. Let’s not talk to bad things and the little individual tax payer in meaningless. But in large numbers we take your money to bring manufacturing at any expense . Just stating the facts.No water to drink or shower past 5 days now. Why?