Toyota Tsusho : Further Investment on the Automotive Battery Factory in the US
August 31, 2022 at 02:10 am EDT
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2022-08-31
Toyota Tsusho Corporation ("Toyota Tsusho") has announced that Toyota Tsusho together with Toyota Motor North America, Inc ("TMNA"), an entity of Toyota Motor Corporation in the US, started its preparation for manufacturing automotive batteries at Toyota Battery Manufacturing, North Carolina ("TBMNC").
Further US$ 2.5 Billion (approx. 325 Billion Japanese Yen) is going to be invested on TBMNC to ramp up its battery production capacity for electric vehicles (BEVs), which will enable TBMNC to create another 350 jobs, bringing the total employment to approximately 2,100. TBMNC is scheduled to commence its operation from 2025 and is manufacturing batteries for hybrid electric vehicles (HEVs) and BEVs.
Outline of TBMNC
Name
Toyota Battery Manufacturing, North Carolina (TBMNC)
Location
the Greensboro-Randolph Megasite, North Carolina
Establishment
November 2021
Representative
Sean Suggs
Capital
US$1,734Million
Investment
TMNA 90% Toyota Tsusho 10%
Total Jobs
Approx. 2,100
Business domain
Manufacturing of batteries for automobiles
Toyota Tsusho group pledged last July to reduce greenhouse gas emission (GHG) by 50% compared to 2019 by 2030, and to achieve carbon neutrality by 2050, and the group established "Carbon Neutral Roadmap 2030" last November. The group positions business that promotes and contribute to the reduction of GHG as one of its top priority business domains. Of which, the group views the automotive battery business as a growing pillar for the future, and exerts itself to support the start-up, management and production at TBMNC, leveraging its broadly well-developed and seasoned knowhow and value creation, derived from the automotive manufacturing business.
Toyota Tsusho group contributes to a decarbonized society through industrial life cycle and through promoting carbon neutrality, to pass on a better global environment to the children of the future.
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.
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Toyota Tsusho Corporation published this content on 31 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2022 06:09:06 UTC.
Toyota Tsusho Corporation is a diversified group organized around 7 areas of activity:
- production of metal (24.1% of net sales): steel bars, flat steel, wires, pipes, aluminum, etc.;
- manufacturing of chemical products and electronic components (23.2%);
- production of automobile components and accessories (12.4%). Toyota Tsusho Corporation also offers logistics services and tire assembly services;
- manufacturing of industrial machines equipment and gas (10.9%);
- sale of vehicles (7.9%): private cars, vans, heavy vehicles and motorbikes/scooters. The group also sells spare parts and offers after-sales services;
- manufacturing of food products (7.7%);
- other (13.8%): sale of insurance products (life, health, accident and house), accommodation services, sale of medical equipment and services, sale of textile products and office supplies.
Net sales are distributed geographically as follows: Japan (30.8%), China (14.4%), Africa (13.7%), the United States (9.8%) and other (31.3%).
TOYOTA TSUSHO CORPORATION 
