Toyota has announced a $1.3 billion investment in its current vehicle plant in the US state of Kentucky to prepare it for the production of electric vehicles. The plant will also be equipped with a battery pack assembly line, bringing the overall investment into Toyota Motor Manufacturing Kentucky to almost 10 billion dollars. This news comes as Toyota plans to build a large electric SUV in Kentucky starting in 2025, and is seen as a commitment to vehicle electrification and further investment in the company’s U.S. operations.
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Kerry Creech, president of Toyota Kentucky, spoke about the new investment in her latest corporate announcement: “Today’s announcement reflects our commitment to vehicle electrification and further reinvestment in our U.S. operations,” she said. “Generations of our team members have helped prepare for this opportunity, and we will continue to lead the charge into the future by staying true to who we are as a company and putting our people first for generations to come.”