Project Traits
State: North Carolina
Congressional District: NC05
Organization Type: Commercial
Partner Organization(s) Type: None or Unknown
Energy Sector: Transportation,
Energy Subsector: EV Batteries,
Project Start Year: 2021
Project Launch Year: 2025
Government Support Received: Federal Tax Credit [DOE Advanced Research Projects Agency-Energy] for Unknown Amount
Outcomes & Impacts
Private Investment: $1,300,000,000
Jobs Announced or Created: 5,100
People Served: Unknown
Projected Economic Impact: Unknown
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.
The so-called megasite in North Carolina is projected to bring 5,100 direct jobs and thousands of other indirect jobs to the area, giving new life and opportunity to a once blighted North Carolina region.
The state expects about 100,000 people to move to the region. In Asheboro, there will be at least 16,000 direct new jobs within a 30-minute drive, according to Linda Brown, former president of the Asheboro/Randolph Chamber of Commerce.