One lesson we have learnt time and again is that we are not designed to stay in one place. With the huge potential in our bag, we also carry an onus of fulfilling it, at least under some capacity. Fortunately, we, as a society, have responded to this need in the best possible way. It’s not to say all our attempts were successful, but whenever we did crack the given code, the results were always groundbreaking. Now, a conversation of such nature is almost bound to invite comparisons between different results, and if we are to put one above the rest within the context of importance, the consensus’ pick will be technology. While technology did a lot to fulfil the core human potential, it also somehow added to the said picture. You see, the brand of growth that we had in play was made up from many unique elements. These elements, in turn, educated the world about a different methodology, which was more efficient yet asked for significantly less. When you have made a discovery so powerful, the next step has to be embedding it at the heart of all operations. Granted, it took a major overhaul for us to get there, but the results made our efforts more than worthwhile. In fact, the overall impression we got from the tech-transition sent out a signal that was encouraging to the point where we were compelled to go further. This curiosity appeared differently across various conditions, and in the automotive sphere, it ended up take the shape of electronic vehicles. So far, the industry has made some big strides to uncover what the EV path holds for it. Nevertheless, we are set to see a bigger and better push, as Toyota decides to jump on the hype train.
Toyota has officially revealed its plans to launch a $1.29 billion battery factory in North Carolina. The move aligns well with the company’s intention of investing $13.6 billion in battery tech over the next decade, with $9 billion entirely devoted to production. As per reports, we can expect the North Carolina plan to kickstart production by 2025. In order to cater an upcoming flurry of Toyota EV vehicles, the automotive-giant has set the first year production targets at a little over one million battery packs.
“This investment, which I believe is so far the largest private capital investment in North Carolina history… will create at least 1,750 new jobs and help us develop and localize automotive battery production,” said Chris Reynolds, Chief Administrative Officer at Toyota Motor North America.
If we go by the numbers, Toyota’s decision to source its EV supply-chain in US presents a positive case for the technology’s long-term future in the country, but to get the real picture, we must take off the rose-tinted glasses. For starters, the new plant doesn’t happen without a whopping tax incentive package, which is reported to be worth somewhere near $438.7 million. Furthermore, the company has been aggressively lobbying to slow US transition towards an EV future mainly due to its own struggles in catching up, and that is something which forces you to ask certain big questions in an ethical sense.
Despite everything, the EV domination remains up for grabs. We don’t know how the landscape will shape, but the early signs certainly give hope for a cracking race ahead.