Toyota Commits Up To $10B Additional Investments In US Over Five Years

• The new plant opened in North Carolina is Toyota’s eleventh in the U.S. and its only battery plant outside Japan. 
• The batteries made at the plant will power vehicles including the Camry HEV, Corolla Cross HEV, RAV4 HEV, and a yet-to-be-announced all-electric 3-row BEV.
• The additional $10 billion investment will bring Toyota’s total investment in the U.S. to nearly $60 billion since the carmaker started operations in the country.

Japanese automaker Toyota Motor (TM) announced on Wednesday that it will invest up to an additional $10 billion in the U.S. over the next five years, as it seeks to expand its operations in its key market.

The additional investment will bring Toyota’s total investment in the U.S. to nearly $60 billion since the carmaker started operations in the country.

New Plant Kick Start

The company on Wednesday also kick-started production at its all-new $14 billion battery plant in Liberty, North Carolina. The plant is Toyota’s eleventh in the U.S. and its only battery plant outside Japan.

The 1,850-acre site is expected to create up to 5,100 new jobs and produce 30 GWh annually at full capacity, the company stated. It will serve as the development and production hub for lithium-ion batteries needed for Toyota’s electrified vehicles, with 14 battery production lines supporting hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), and plug-in hybrid electric vehicles (PHEVs).

The batteries made at the plant will power vehicles including the Camry HEV, Corolla Cross HEV, RAV4 HEV, and a yet-to-be-announced all-electric 3-row BEV. It currently ships HEV modules to both Toyota Kentucky and Mazda Toyota Manufacturing in Alabama, the company said.

Trump’s Push

The investment announcement comes as President Trump is pushing for more investments in the country, including through the imposition of high tariffs on imported vehicles.

“Go out and buy a Toyota,” Trump said last month in an address to U.S. troops aboard the USS George Washington at the Yokosuka Naval Base after the Japanese PM informed him that Toyota is planning a $10 billion investment.

According to Toyota estimates, the company has sold more than 6.6 million hybrid, plug-in hybrid, fuel cell, and battery electric vehicles in the U.S. since 2000.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around TM stock jumped from ‘neutral’ to ‘bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.

TM stock is up by 6% this year and by 18% over the past 12 months. 

Also See: Uber COO Says Robotaxi Tech Is Largely Ready But Hardware Costs Are Still Too High

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