Toyota triples investment in Battery Plant

Photo by: Toyota
Photo by: Toyota

(Liberty, NC) -- Toyota will triple its investment in a new North Carolina battery plant.

Rising demand for electric vehicles is what the company said led it to increasing its investment from one-point-29-billion dollars to three-point-eight-billion dollars.

The new funds will be used for adding two production lines specifically for making batteries for fully electric vehicles.

The facility will be located in Liberty, North Carolina and is scheduled to open in 2025.