Toyota Motor Corp. is the most recent company to move a critical part of its supply chain to the U.S. from an offshore site, choosing North Carolina as the location for a $1.29-billion battery manufacturing plant for its electric vehicles, following a decision by Ford Motor Co.. and its Korean battery partner SK Innovations, to build a similar plant in Georgia.
The facility will be Toyota's first battery plant in North America. It will support the firm's 14 auto manufacturing plants in the U.S. and Canada.