Toyota to build $1.29 billion EV battery plant in North Carolina, create 1,750 jobs

Toyota will build a new $1.29 billion battery plant for electrified vehicles in North Carolina, public officials and the company are expected to announce Monday afternoon.Yichuan Cao | NurPhoto | Getty Imageswill build a new $1.29 billion battery plant for electrified vehicles in North Carolina, public officials and the company are set to announce Monday afternoon.

The plant in central North Carolina is expected to create 1,750 jobs in the state, Toyota has said. The investment in the facility is scheduled through 2031. Toyota was identified during a morning meeting of the state Economic Investment Committee, which voted to award at least $79 million in incentives to the company if the project is completed, theToyota and other automakers that have been slow to invest in all-electric vehicles are scrambling to move production of EV battery components closer to home to reduce costs and lower risks of supply chain disruptions.

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