Toyota Opens a ‘Megasite’ for EV Batteries in a Struggling N.C. Community, Fueled by Biden’s IRA
Toyota has announced plans to construct a $1.3 billion electric vehicle (EV) battery megasite in North Carolina. The facility will produce lithium-ion batteries for Toyota’s electric and hybrid vehicles. The project aims to enhance Toyota’s EV production capacity and support its goal of achieving carbon neutrality by 2050. The megasite is expected to create thousands of jobs and boost the local economy. Construction is set to begin in 2025, with battery production starting in 2027.