Toyota confirms plans for $1.29 billion mega-factory near Greensboro to build electric car batteries

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(Image of the announcement from Toyota Motor)

Toyota Motor confirmed on Dec. 6  that it plans to build a $1.29 billion factory to make batteries near Greensboro.

The New York Times reported the project is expected to be completed in 2025 and will have four production lines, each capable of making battery packs for 200,000 cars a year.

“The future of mobility is electrification,” Ted Ogawa, chief executive of Toyota Motor North America, said in a statement. “North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled work force, and a welcoming environment for doing business.”

Earlier, the High Point Enterprise reported that Randolph County was preparing to extend incentives to facilitate the plant’s construction.

“During a 20-year period, Randolph County would pay the company incentives equal to 60% of its annual property taxes if it meets the first phase development goals of creating 1,750 jobs and making a $1 billion private investment. The incentives would increase to 70% of the company’s annual property taxes if it meets the second phase goal of 3,875 jobs and $3 billion investment.”

Randolph County was considering transferring ownership of all or a portion of the properties currently owned by the county and the Greensboro-Randolph Megasite Foundation to the company. The notice indicates the total size of the possibly transferred properties to be 626 acres valued at $21.8 million, the report says.

The business news service Bloomberg and Automotive News have said Toyota plans its project for the site in northeastern Randolph County near Liberty.

“Another indication is that the Greensboro-Randolph Megasite Foundation has petitioned the U.S. Army Corps of Engineers for approval to do work on the site for an automotive storage battery manufacturing facility,” the HPE story says.

“I’m glad that Toyota Battery Manufacturing has chosen to call North Carolina home,” said North Carolina Gov. Roy Cooper said in the Toyota statement. “This investment in our state is a testament to our world class workforce and growing economy. North Carolina is working hard every day toward a clean energy future and projects like this will help us get there.”

In determining the location for the new plant, Toyota was interested in renewable energy availability as well as support from local stakeholders, including governments, utilities, partners, and others. Candidates for the site were narrowed down based on these requirements and Greensboro-Randolph Megasite met and exceeded these needs with:

  • An extensive and well-maintained highway system for overland logistics
  • Four international airports and two seaports
  • Onsite rail
  • An outstanding, diverse workforce
  • Renewable energy availability
  • World-renowned education system
  • Strong government partnership at both the state and local levels

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