Toyota Motor North America has announced a new automotive battery manufacturing plant in North Carolina, called the Toyota Battery Manufacturing, North Carolina (TBMNC). It will be located at the Greensboro-Randolph Megasite in the town of Liberty and represents an investment of $1.29 billion.

Toyota confirmed that the facility would commence production in 2025 with four production lines, with each capable of producing enough lithium-ion batteries for use in 200,000 vehicles. Over time, the OEM intends to integrate at least six production lines to produce enough batteries for up to 1.2 million vehicles per year. The factory will produce batteries for electrified vehicles, beginning with hybrid electric vehicles.

The $1.29 billion investment, including funds to develop land and facilities made by Toyota and Toyota Tsusho, will be partially funded from a previously announced investment of approximately $3.4 billion. The factory will function as a joint venture between Toyota Motor North America, who will own 90% of the plant, and Toyota Tsusho, who will hold 10% of it.