Toyota adds $1.3 billion EV investment for Kentucky plant

Toyota today announced a $1.3 billion investment at its Kentucky production plant for future electric vehicle (EV) development. It includes the assembly of a new three-row battery electric SUV for the U.S. market.

This addition leads the total investment at the Kentucky plant to $10 billion. They will also give new direction to BEV projects at the facility.

Furthermore, the investment will also add a battery pack assembly line to the facility and the batteries will be supplied by Toyota Battery Manufacturing Unit in North Carolina.

“We are grateful that they continue to invest in our commonwealth and continue to set a standard for high-quality, well-paying jobs for our citizens. Thank you, Toyota for yet another $1 billion-plus investment coming to Kentucky,” said Kentucky Governor Andy Beshear.

The Japanese carmaker is also looking for potential investment in communities specifically in education and workforce development. Toyota said that it has donated over $154 million in local donations since its beginning at the Kentucky plant.

Over the past 3 years, Toyota has invested around $17 billion in the U.S. for Electric vehicle manufacturing.

“Today’s announcement reflects our commitment to vehicle electrification and further reinvesting in our U.S. operations,” said Kerry Creech, president of Toyota Kentucky.

Toyota broke ground in Georgetown, Kentucky in May of 1986 and two years later it produced its first Camry. Since then, the plant has produced 13 million vehicles and generated 9,500 employments.

The plant makes Camry Hybrid and RAV4 Hybrid as well as four-cylinder and V-6 engines.

(source – Toyota)