Toyota is charging its North Carolina battery manufacturing plant with billions of dollars in investments, signaling that the auto giant intends to be a player in the electric vehicle space.
Production at the $14 billion facility was announced Nov. 12, the same day Toyota committed another $10 billion to the site and $2.7 million in educational grants to local schools. The company stated in a news release that it has invested around $60 billion for work in the United States during the last seven decades.
"We're excited to see this innovative facility come to life and to provide cutting-edge careers for more than 5,000 North Carolinians," Toyota North Carolina President Don Stewart said.
Toyota North America President Ted Ogawa called the news "a pivotal moment" for the automaker.
It's one for the U.S. EV sector, as well.
The end of federal tax breaks in September caused stateside sales to lag in October, following a banner period as customers rushed to take advantage of the up to $7,500 in credits. Reuters reported October sales were down 41% following late summer and autumn records. Meanwhile, global fully electric and plug-in hybrid sales hit 1.9 million in October, a 23% increase, per the story.
Toyota considers itself a pioneer in the sector, having sold 6.6 million hybrid, plug-in hybrid, fuel cell, and battery EVs since 2000, per the release.
Still, Electrek characterized Toyota's activity in the EV space as laggardly to date, but the massive investment in the Tar Heel State is turning heads. For its part, the automaker says its lineup generates "more possibilities." The bZ is the sole highlight on its EV page, though hybrid offerings include the popular Prius and other models. More electric options are on the docket for next year.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers in your area. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best options for your needs, and their expert advisers can help you compare quotes and pick a winner. Solar panels can save you more than $50k over their 25-year lifespan, and EnergySage can help you save as much as $10k on installation. Which begs the question — isn't that worth an email or two? |
It's fitting that Toyota's North Carolina plant is located in Liberty. EVs are one of the best ways for motorists to gain independence from dirty-fuel-burning rides. Owners typically save up to $1,500 a year on gas and service costs with no more oil or some other fluid changes. And certain states still offer perks for buying and charging them.
Charging at home is the cheapest way to power your ride, maximizing savings worth potentially thousands of dollars a year when compared to gas and public fast-charging stations, according to Qmerit. The service can help you get the best deal for a Level 2 charger installation at home. Level 2 chargers typically fill a battery in four to 10 hours, which is not as fast as public stations such as Tesla Superchargers, per the Department of Transportation.
|
Should America invest more in EV battery tech?
Click your choice to see results and speak your mind. |
Absolutely 👍 An EV also prevents thousands of pounds of heat-trapping air pollution each year when it replaces a gas vehicle, even in states where dirty fuels create the electricity to charge them, the Department of Energy reports. Tailpipe exhaust is a known lung troubler, and the American Lung Association says that limiting the fumes can improve breathing by clearing neighborhood air.
EV owners can add to the benefits with home solar. A rooftop system can provide free sun energy to charge the cleaner rides, removing reliance on the grid and public stations. The Cool Down's Solar Explorer can help you compare quotes, find an installer, and secure tax breaks that expire Dec. 31, saving you up to $10,000 in upfront costs. EnergySage is one of the trusted partners that can discover the best setup for your home.
On the charging front, Qmerit can gather quotes and other information to help you land the right tech, ensuring you are using the electricity as efficiently as possible when powering up your EV.
In Liberty, Toyota is poised for a big year backed by massive upgrades.
"The company's significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers," Ogawa said.
💰Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.
Cool Picks
