GREENSBORO, N.C. — Toyota will build its first North American battery manufacturing plant for a new generation of vehicles in North Carolina, creating at least 1,750 jobs, Gov. Roy Cooper announced Monday.
“From the Wright brothers' first flight to life-saving medicines at the Research Triangle Park, we have been a state of firsts. Partnering with industries to develop new ideas that really do change people’s lives. Good things come to those who wait. Today, we announce that Toyota will invest $1.29 billion for its first automobile battery manufacturing plant right here in the Greensboro-Randolph Megasite in the greatest state of North Carolina,” Cooper said.
Toyota will invest $1.29 billion at the Greensboro-Randolph Megasite - a 1,800-acre piece of land that sits on the county border. Officials said the jobs are expected to have an average yearly salary of $62,000. Randolph County's overall average annual wage is currently just under $38,000.
It's not the first time the automaker has eyed the Megasite. Back in 2018, Randolph County lost a bid for a car manufacturing plant to Alabama but state and local officials did not give up.
"You never know if the client who walks away today may be the one that comes back next year or a few years down the road," Kevin Franklin said.
Franklin is the President of the Randolph County Economic Development Corporation. He said that when the project started in June, they did not initially know Toyota was on the other side of the deal.
The plant will make lithium-ion batteries for 200,000 cars with plans to eventually make more than 1.2 million battery packs per year.
“It’s tremendous that Toyota has selected North Carolina for such an important part of its electric vehicle future, creating good-paying jobs and moving us toward a healthier environment,” Cooper said. “It’s clear the world is beginning to embrace a clean energy future and today’s decision puts North Carolina front and center.”
The new plant in Randolph County will initially produce batteries for Toyota’s hybrid electric vehicles and intends to produce batteries for battery electric vehicles long term.
“The future of mobility is electrification and the Greensboro-Randolph Megasite is the ideal location to make that future a reality,” said Ted Ogawa, CEO of Toyota Motor North America.
Ogawa said Toyota chose North Carolina because of the infrastructure, international airports, a diverse and skilled workforce, a high-quality education system, and a welcoming environment for doing business.
The new venture company will be known as Toyota Battery Manufacturing, North Carolina (TBMNC), based in Randolph County at the Greensboro-Randolph Megasite.
Toyota plans to start hiring no later than 2024, with production starting by 2025.
Local leaders said we will start to see crews preparing the land at the beginning of the new year. Construction will start soon after.
Toyota is estimated to bring $9.5 billion to the North Carolina economy over the next 20 years, in Phase One of the project.
If that happens, Toyota will enter Phase Two of the project, investing $3 billion and creating nearly 4,000 jobs.
Earlier Monday, Randolph County and Greensboro leaders unanimously approved incentives for Toyota.
Randolph County commissioners approved paying a portion of property taxes and other fees. Greensboro City Council approved waiving water and sewer fees for the site.