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Toyota is building a $1.3 billion battery factory in the United States

Toyota is preparing to build a $ 1.3 billion electric vehicle battery factory near Greensboro, North Carolina, which will employ at least 1,750 people, U.S. government officials said.

The Economic Investment Committee voted to give Toyota at least 79 million dollars in incentives if the project is completed, the AP reported.

Toyota BZ4X
Toyota is building a $1.3 billion battery factory in the United States (source: Toyota)

The location is along a four-lane highway with already accessible water, sewage and railway infrastructure. Randolph County elected leaders unanimously voted yesterday to offer the company a local incentive package.

In October, Toyota announced plans to build a new U.S. battery factory for hybrid and fully electric vehicles. The location was to be announced later in the year.

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The car manufacturer announced that the factory will start producing batteries in 2025 and will gradually expand until 2031. The factory is part of the $ 3.4 billion that Toyota plans to spend in the United States on the production of car batteries over the next decade.

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