Toyota Motor Corporation says it's boosting its investment in a planned Greensboro-Randolph megasite by $2.5 billion.
The investment is part of a $5 billion plan to ramp up production of batteries for electric vehicles both in Japan and in the Triad. Demand is expected to rise in coming years because of high gas prices and environmental concerns over fossil fuels.
Emily Wilemon-Holland is a corporate communications manager for Toyota. She says the company has offered the electric hybrid Prius model for more than 20 years. With the additional investment, Toyota will be able to add a line of cars that rely solely on electricity.
“We know the future is electric, and we want to be there and we want to be ready for it when the demand hits,” she says.
The Triad electric battery plant plans were announced late last year. With the expansion announcement, Toyota says the total workforce is now expected to include more than 2,000 people.
Production at the facility is scheduled to begin in 2025.