Toyota to Invest $2.1 Billion More in North Carolina Battery Plant, Will Build Big SUV at Factory in Kentucky

An electric and hybrid vehicle battery factory being built by Toyota is shown while under construction near Greensboro, N.C., on May 15, 2023. Toyota via AP

FRANKFORT, Ky.—Toyota will invest another $2.1 billion in an electric and hybrid vehicle battery factory that’s under construction near Greensboro, North Carolina.

The plant will supply batteries to Toyota’s huge complex in Georgetown, Kentucky, which will build Toyota’s first U.S.-made electric vehicle, a new SUV with three rows of seats.