Toyota Invests $1.3 Billion in Kentucky Plant for All-Electric SUV Production
TL;DR Summary
Toyota is investing an additional $1.3 billion in its Kentucky factory to prepare for the production of a new three-row all-electric SUV for the U.S. market, bringing its total investment to nearly $10 billion. The company's move reflects its commitment to vehicle electrification and follows a pledge to introduce 10 new battery-powered vehicles by 2026. The investment will support assembly of the SUV and the addition of a battery pack assembly line, with production expected to begin in 2025, positioning Toyota to compete with other electric SUVs in the market.
- Toyota adds $1.3B to US factory to produce three-row all-electric SUV TechCrunch
- Toyota investing $1.3 billion in Kentucky to build all-electric, three-row SUV CNBC
- Toyota investing $1.3 billion in EV and hybrid manufacturing in KY Courier Journal
- Kentucky Toyota plant expansion for electric powered SUV Lexington Herald Leader
- Toyota to invest over $1 billion in Georgetown plant WKYT
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