Toyota has announced a significant expansion of its commitment to electric vehicle (EV) production with a $1.3 billion investment in its Kentucky facility. This strategic move aims to bolster the assembly of a new, three-row battery electric SUV specifically designed for the U.S. market.
This investment not only marks a significant increase in the plant’s total investment, which now approaches nearly $10 billion but also signifies Toyota’s ongoing commitment to electrification and innovation within the automotive sector.
Governor Andy Beshear of Kentucky praised Toyota for continuing to invest in the commonwealth, highlighting the importance of such investments for high-quality, well-paying jobs for Kentuckians. The Georgetown facility, a cornerstone of Toyota’s manufacturing presence in the U.S., employs approximately 9,400 workers and can assemble 550,000 vehicles a year, including the popular Camry sedan. The facility’s expansion further solidifies Toyota’s position as a leader in the automotive industry, particularly in the realm of electric and hybrid vehicles.
This investment will not only support the assembly of the new electric SUV but also introduce a battery pack assembly line to the facility, with batteries supplied by Toyota Battery Manufacturing North Carolina. The initiative underscores Toyota’s broader electrification strategy, aiming to offer electric or hybrid versions of every vehicle model by 2025 and contributing to the global shift towards sustainable transportation solutions.