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Toyota To Invest Over €8 Billion In The US Market
Toyota has invested over €43 billion in its operations in the United States over the past nearly 70 years. The reasoning is that there’s still room for more. Toyota will be pumping another €8.5 billion into its American division over the next five years.
Toyota has officially opened a brand-new battery manufacturing plant in the United States. The North Carolina plant, announced years ago, is now fully operational. The full name of the facility, Toyota Battery Manufacturing North Carolina (TBMNC), is Toyota’s first battery plant outside of Japan. During the opening ceremony, Tetsuo Ogawa, chairman and CEO of Toyota Motor North America, made an interesting announcement.
Ogawa announced that Toyota will invest an additional $10 billion—the equivalent of €8.64 billion—in its US operations over the next five years. The company hasn’t disclosed exactly what the money will be used for.
Toyota is by no means a small player in the United States. It employs around 50,000 people and operates no fewer than eleven manufacturing plants. Incidentally, the North Carolina plant produces batteries not only for electric cars but also for hybrid and plug-in hybrids. Ultimately, 30 GWh of battery capacity is expected to leave the factory annually.
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