Toyota will invest $1.3 billion (€1.2 billion / £1 billion) into its flagship Kentucky facility for future electrification efforts, including the assembly of a new, three-row electric SUV for the U.S. market. The project brings the plant’s total investment to nearly $10 billion (€9.2 billion / £7.9 billion).
The new investment supports the OEM’s previously announced future BEV assembly at the Kentucky plant. It will also add a new battery pack assembly line to the facility with batteries supplied by the Toyota Battery Manufacturing North Carolina facility, which Toyota expects to come online in 2025.
While announcing the investment, Toyota committed to investing in its operational communities, focusing primarily on education and workforce development. The Kentucky investment more broadly builds on Toyota’s existing investments into its U.S. manufacturing operations intended to support its electrification efforts, having announced new investments totaling $17 billion (€15.7 billion / £13.4 billion) since 2021.
As it increases BEV assembly in North America, the OEM will look to advance both its portfolio approach to electrification and its commitment to local manufacturing within its chosen markets.