The Strategist

Toyota to invest $1.3 billion more in Kentucky flagship plant

02/08/2024 - 05:29

According to a press release from the company's U.S. division, Japanese carmaker Toyota Motor plans to invest an additional $1.3 billion on its flagship facility located in Kentucky.

Toyota UK
Toyota UK
Consequently, the firm will receive almost $10 billion in total investments.

The additional funding is intended to further the electrification of transportation, namely by creating the possibility of building a brand-new all-electric SUV model for the US market.

The plant will also feature a line for assembling batteries.

Toyota plans to invest $17 billion in transportation electrification-related U.S. production plants in total.