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TOYOTA TSUSHO CORPORATION

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Toyota Selects North Carolina Greensboro-Randolph Site for New U.S. Automotive Battery Plant; Plant is first to produce automotive batteries for Toyota in North America, enough battery packs for 1.2 million electrified vehicles per year

12/08/2021 | 10:13am EST

LIBERTY, N.C. - Today, Governor Roy Cooper of North Carolina and Mayor Filmore York of Liberty, North Carolina, joined Toyota Motor North America's leaders to announce Greensboro-Randolph Megasite has been chosen as the location for Toyota's new $1.29 billion automotive battery manufacturing plant, to be named, Toyota Battery Manufacturing, North Carolina (TBMNC).

When it comes online in 2025, TBMNC will have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles-with the intention to expand to at least six production lines for a combined total of up to 1.2 million vehicles per year.

The $1.29 billion investment made by Toyota and Toyota Tsusho is partially funded from a total investment of approximately $3.4 billion previously announced on October 18, and is expected to create 1,750 new American jobs.

'The future of mobility is electrification and the Greensboro-Randolph Megasite is the ideal location to make that future a reality,' said Ted Ogawa, CEO of Toyota Motor North America. 'North Carolina offers the right conditions for this investment, including the infrastructure, high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business. Today marks the beginning of a mutually beneficial partnership with the Tar Heel state as we embark on our journey to achieve carbon neutrality and provide mobility for all.'

'I'm glad that Toyota Battery Manufacturing has chosen to call North Carolina home,' said Governor Cooper. 'This investment in our state is a testament to our world class workforce and growing economy. North Carolina is working hard every day toward a clean energy future and projects like this will help us get there.'

In determining the location for the new plant, Toyota was interested in renewable energy availability as well as support from local stakeholders, including governments, utilities, partners, and others. Candidates for the site were narrowed down based on these requirements and Greensboro-Randolph Megasite met and exceeded these needs with:

An extensive and well-maintained highway system for overland logistics

Four international airports and two seaports

Onsite rail

An outstanding, diverse workforce

Renewable energy availability

World-renowned education system

Strong government partnership at both the state and local levels

In addition, as the company continues its efforts to reach carbon neutrality for its vehicles and operations by 2050, Toyota is committed to using 100% renewable energy at this new facility to produce the batteries.

New Company Overview

About Toyota

Toyota (NYSE:TM) has been a part of the cultural fabric in the U.S. for more than 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our nearly 1,500 dealerships.

Toyota has created a tremendous value chain and directly employs more than 36,000 in the U.S. The company has contributed world-class design, engineering, and assembly of more than 30 million cars and trucks at our 9 manufacturing plants, 10 including our joint venture in Alabama that began production in September 2021.

To help inspire the next generation for a career in STEM-based fields, including mobility, Toyota launched its virtual education hub at www.TourToyota.com with an immersive experience and chance to visit many of our U.S. manufacturing facilities. The hub also includes a series of free STEM-based lessons and curriculum through Toyota USA Foundation partners, virtual field trips and more. For more information about Toyota, visit www.toyotanewsroom.com.

Media Contacts

Aaron Fowles

310-561-2321

Aaron.Fowles@Toyota.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
TOYOTA MOTOR CORPORATION -0.72% 2268 Delayed Quote.8.50%
TOYOTA TSUSHO CORPORATION -1.04% 4775 Delayed Quote.-8.96%
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Financials
Sales 2022 7 363 B 64 661 M 64 661 M
Net income 2022 200 B 1 758 M 1 758 M
Net Debt 2022 995 B 8 741 M 8 741 M
P/E ratio 2022 8,49x
Yield 2022 3,03%
Capitalization 1 698 B 14 920 M 14 909 M
EV / Sales 2022 0,37x
EV / Sales 2023 0,33x
Nbr of Employees 64 402
Free-Float 63,6%
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Ichiro Kashitani Managing Executive Officer
Hideyuki Iwamoto CFO, Director, Head-Accounting & Legal Affairs
Jun Karube Manager-Logistics
Hiroshi Tominaga Director, Chief Strategy &Human Resources Officer
Takahiro Kondo Director, VP & Chief Compliance Officer
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