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Toyota (7203) picks North Carolina for its $1.3bn battery plant

By Andreas Ismar

07:45, 7 December 2021

A Toyota dealership in US
A Toyota dealership in the US – Photo: Shutterstock

Toyota Motor has picked North Carolina for its $1.3bn battery plant in the US as the world’s biggest carmaker by output steps up efforts for electric vehicle (EV). 

The plant is expected to come on stream in 2025 with production capacity of supplying batteries for 800,000 vehicles annually. The establishment of the plant is part of Toyota’s $3.4bn investment into EV battery announced in October.

“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,” Ted Ogawa, CEO of Toyota Motor North America, said in a statement.

To use 100% renewables

The North Carolina plant will be fully powered by renewables energy as part of its commitment to become carbon neutral company, Toyota said.


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The plant, to be named as Toyota Battery Manufacturing North Carolina, can be further upgraded to produce batteries for 1.2 million vehicles a year. Toyota estimated the facility will create 1,750 new jobs.

“The future of mobility is electrification and the Greensboro-Randolph Megasite is the ideal location to make that future a reality,” said Ogawa.

Following the announcement, Toyota’s stock surged 1.9% to JPY2,105 on the Tokyo bourse.

Read more: Toyota to invest .4bn in US automotive battery industry

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Toyota Motor Corporation
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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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