Toyota is significantly expanding its manufacturing footprint in the United States, announcing up to $10 billion in additional investment over the next five years, alongside a newly disclosed $912 million allocation to boost hybrid-vehicle production across five US plants.
The second investment is part of – and included within – the larger package announced earlier in November.
Toyota Motor Corporation said the up to $10 billion commitment will “bring the company’s total US investment to nearly $60 billion since beginning operations in the US nearly 70 years ago”.
The announcement coincided with the official opening of Toyota Battery Manufacturing, North Carolina (TBMNC), the company’s first in-house battery plant outside Japan.
The facility, established in 2021, represents “an investment of nearly $14 billion and the creation of up to 5,100 new jobs”.
Tetsuo Ogawa, president and CEO of Toyota Motor North America, said: “Today’s launch of Toyota’s first US battery plant and additional US investment up to $10 billion marks a pivotal moment in our company’s history.
“Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers.”
As part of the same five-year investment framework, Toyota Motor North America also announced $912 million for hybrid-related production capacity at plants in West Virginia, Kentucky, Mississippi, Tennessee and Missouri. The company said the investment is aimed at meeting “growing demand for the vehicles in the US”.
According to the announcement, the $912 million will be distributed to Toyota’s Buffalo plant in West Virginia, Georgetown plant in Kentucky, Blue Springs plant in Mississippi, Jackson plant in Tennessee, and Troy plant in Missouri.
Toyota said the investment falls within its “up to $10 billion additional investment plan over the next five years in the US, announced on November 13”.
Both announcements emphasize Toyota’s long-standing strategy of local production and community engagement.
The company describes its approach as a “best-company-in-town” philosophy – “investing and producing locally, contributing to the local community and offering diverse options tailored to local needs through a multi-pathway strategy”.
Toyota currently employs approximately 50,000 people in the US and has manufactured more than 35 million vehicles across 11 plants since entering the market nearly seven decades ago.
