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Toyota has begun production at a new $13.9 billion battery plant in North Carolina and will invest up to $10 billion more in the U.S. over the next five years. CEO Tetsuo Ogawa called it a pivotal moment. First announced in 2021, the site is Toyota’s first in-house battery facility outside Japan. It comes as EV demand sours and hybrid sales surge, with Toyota holding over 51% share through the third quarter, according to Motor Intelligence. U.S. sales rose 9.9% to more than 1.3 million vehicles, and the move follows Trump saying last month Toyota would invest $10 billion.

Prepared by Christopher Adams and reviewed by editorial team.