Toyota Invests $1.3 Bln In Kentucky Plant For Electric SUV Production

(RTTNews) - Japanese auto major Toyota Motor Corp. (TYT.L, TM) revealed a $1.3 billion investment in its main Kentucky facility to drive future electrification initiatives, including the production of a new three-row battery electric SUV for the U.S. market. This project elevates the plant's overall investment to nearly $10 billion.

The company stated that the investment supports the previously announced future BEV assembly at Toyota Kentucky. It also adds a battery pack assembly line to the facility, with batteries being supplied by Toyota Battery Manufacturing North Carolina.

Toyota Kentucky has been a hub of the automaker's North American operations since 1986. Its nearly 9,400 team members have assembled some of the most beloved nameplates in the Toyota lineup, including the Camry.

Toyota said it is also committed to investing in its operational communities, primarily focusing on education and workforce development. Since making Kentucky home nearly four decades ago, more than $154 million in local donations continue to make sizeable impacts in the Bluegrass state.