The Japanese automobile company Toyota will build one of the largest battery plants in the world to date. For this, the company is planning an investment in the billions and can also fall back on high government grants.
The Japanese group will build the production facility in the US state of North Carolina. The company announced that now. It had previously been announced that it would have included an investment volume of 1.29 billion dollars in the balance sheet planning. The construction project is also to be subsidized with around 438 million dollars from the state – this involves public investments in infrastructure projects and various other measures to support the settlement.
In the future, 1750 people will work at the plant, which is a considerable workforce for the highly automated production of battery cells. When the factory is fully developed, it should be able to produce batteries here, with which one could equip 1.2 million electric cars per year, said Chris Reynolds from Toyota North America management.
The official announcement of construction at the site was preceded by lengthy planning with the North Carolina authorities, code-named Project Darwin. At a special meeting yesterday, the Economic Development Committee passed the resolution that the proposed funds can be used for the planned purposes, which finally sealed the location decision.
Production in the new plant is scheduled to start in 2025. It will then take another five years before the full expansion status is achieved. The aim is to achieve a full workforce as early as 2029. Toyota will pay an average wage at the plant that is roughly double what is currently recorded in the surrounding region.
Brian is the news author at Research Snipers which mainly covers Technology News, Microsoft News, Google News, Facebook, Apple, Huawei, Xiaomi, and other tech news.