Updated: Toyota Invests Additional $8 Billion at North Carolina Battery Plant

Oct. 31, 2023
A look into the billions of dollars being invested in new battery plants and expansions in recent years.

Editor's note: This slideshow initially ran on Feb. 24, 2023. It has now been updated 15 times:

  • On March 8 to include Amprius Technologies' plans for a plant in Colorado.
  • On March 15 with the announcement of PowerCo's planned facility in Ontario, Canada.
  • On March 22 with Albemarle's announcement of a lithium Mega-Flex processing facility, and Cirba Solutions' announcement of an EV battery materials facility.
  • On March 24 with LG Energy Solution's plans for a battery manufacturing complex in Arizona.
  • On April 21 to include updates on the Volkswagen and PowerCo SE gigafactory.
  • On April 26 with the announcement of the $3 billion GM and Samsung SDI investment.
  • On May 26 with the announcement of LG Energy Solution and Hyundai Motor Groups manufacturing joint venture.
  • On May 31 with Toyota's announced expansion of the North Carolina battery plant that is still under construction. 
  • On June 13 with the announcement of General Motors and Samsung SDI's joint venture plant in Indiana.
  • On July 24 to include the announcement of a second battery plant from Stellantis and Samsung SDI's joint venture.
  • On August 18 with the cathode manufacturing facility announcement from SK On, EcoProBM and Ford.
  • On September 6 to include the Accelera by Cummins, Daimler Truck and Paccar joint venture.
  • On October 12 to include a new LG Energy Solution plant in Michigan to supply Toyota and a new Samsung plant to supply Stellantis in Indiana.
  • On October 31 to include Epsilon Advanced Materials' graphite anode manufacturing facility and Toyota's new $8 billion investment.
  • On November 14 with the announcement of lithium-ion battery manufacturing business Forge Battery.

As the electrification push continues, companies have been making massive investments to keep with up with the EV boom. As these announcements have been coming one after the other, IndustryWeek has compiled a presentation of some of the largest and most notable advancements in the EV battery manufacturing space. Our slideshow details some of these business and joint venture EV battery announcements that have been made in the previous few years.

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