Toyota may begin production for batteries for electric and hybrid vehicles in its $13.9 billion facility in North Carolina as soon as next year, Automotive News reported.
As of writing, several parts of the 1,800-acre complex near Greensboro were already finished with the rest nearing completion.
(Photo : Nathan Howard/Getty Images)
Once production starts, the two-line production plant will provide battery packs for Toyota and Lexus hybrids, generating over 5,000 jobs.
The facility is predicted to be at full capacity by 2028, in time for the current administration's proposed plan to shift 30% of the vehicles in the US to zero carbon emission.
The industrial complex is among the Japanese EV makers' biggest investments in the US as the country pushes electric cars into mainstream popularity.
EV Battery Production Expected to Bring Down Prices of Electric Cars in the US
With more companies about to begin mass production of EV batteries, the prices for electric and hybrid cars are expected to go down slightly as resources needed for their manufacturing become more available.
Importing EV batteries from other countries largely contribute to hybrid and electric cars' prices.
Several gas providers like Exxon have already announced plans to build their production facility in Arkansas, supplying major EV brands by 2030.
South Korea's Hyundai also received the government's approval in April last year to build a $5 billion battery assembly in Georgia.
Also Read: Exxon to Begin Lithium Assembly for EVs by 2027
EV Future in the US Remains Uncertain
Despite the government and the industry's push for EVs, the car's longtime success in the US remains uncertain as legislative pushbacks and slow market growth deter car dealers from fully jumping into the trend.
California's New Car Dealers Association reported a slowdown in EV sales in the state last February as most people who plan to buy EVs have already purchased one.
California is one of the primary EV markets in the US, boasting nearly 1 million light-duty EVs registered, making the slowdown hurt business sales as evidenced by Tesla.
Car dealers have since expressed concerns about the government's aggressive push for the transition despite the lack of necessary facilities, infrastructures, and acceptance needed for the shift.
In response, President Joe Biden's administration has eased the policies requiring car dealers to switch a huge number of their gas-powered cars to electric ones.
Related Article: Biden Admin's EV Strategy in the US Too Aggressive for Car Dealers
