The largest car manufacturer in the global needs to catch up in the global race for electric cars after delaying rivals such as Tesla and Byd. On Wednesday, Toyota announced that his electric vehicle battery plant of $ 14 billion in North Carolina was open to business. The new installation will begin to send batteries for Toyota Electric cars in April. Meanwhile, Toyota revealed separate plans to challenge Byd and other leaders of the in China.
Little more than 3 years after Toyota, its goal of building a new EV battery factory in North Carolina, the installation is about to open its doors.
After releasing Q3 earnings on Wednesday, the company announced that the Toyota Battery Manufacturing North Carolina (TBMNC) plant had finished preparations. Toyota said the facility “is ready to begin production and will start shipping batteries for North American electrified vehicles in April.”
To give it an idea, the new Toyota EV battery factory is more or less the length of the 121 football fields, more than seven million square feet.
TBMNC is the eleventh Toyota production plant in the US and its first internal battery plant in Japan. The plant even though everything will begin to send batteries in April. When it is completely oconsistent, Toyota expects production to succeed in more than 30 GWh consistent with the year.
On Wednesday, in a separate press release, Toyota announced that he will identify a total property company in Shanghai, China, to produce cars and electric batteries for the Lexus brand.
According to Toyota, local Chinese corporations “will take the initiative in the plans and progression of Bev” while seeking to maintain the speed of byd and other brands of national electric vehicles. The company said that its objective of “becoming a more enjoyed corporate supported through the Chinese people.
The new EV company is expected to start production “after 2027,” with an annual production capacity of about 100,000 units.
Toyota’s announcement occurs when it is temporarily behind the transition from industry to electric cars in primary sales regions, adding the United States and China.
Last year, Toyota sold just 18,750 BZ4X electric SUVs in the United States. By comparison, Honda of Japan sold more than 33,000 prologue models in the U. S. U. S. In 2024, and began deliveries in March. Even the Nissan Ariya has surpassed the BZ4X with almost around 19,800 models sold.
The stage is even more serious in China, where Toyota is wasting the floor for cheap national electric vehicles. After sales, nine % fell in China last year, Toyota blamed “the change to new fuel vehicles” and “intensifying the value of competition. “
Can Toyota things around? The production of more effective electric cars and batteries will be a start. What do you think? Let us know in the comments.
Peter Johnson covers the automotive industry’s step-by-step transformation into electric vehicles. He is an experienced investor, a moneymaker, and an EV enthusiast. His enthusiasm for electric vehicles, basically Tesla, is a vital explanation for why he pursued a career in investing. If he doesn’t tell you about his new 10k discoveries, you can locate him enjoying the outdoors or exercising