Toyota pledges $1.3bn to Kentucky plant for electric SUV production


Toyota has revealed a significant $1.3 billion investment in its flagship Kentucky manufacturing facility, marking a pivotal step towards the future of electrification with the introduction of an all-new, three-row battery electric SUV for the U.S. market. This investment raises the total commitment to the Kentucky plant to nearly $10 billion, emphasizing Toyota’s dedication to producing high-quality vehicles and ensuring long-term job stability for its workforce.

The investment is designed to support Toyota’s previously announced plans for battery electric vehicle (BEV) assembly at its Kentucky location, including the addition of a new battery pack assembly line. Batteries for these vehicles will be supplied by Toyota Battery Manufacturing North Carolina, showcasing a comprehensive approach to building Toyota’s electric vehicle infrastructure in the United States.

Kentucky Governor Andy Beshear lauded Toyota’s continued investment in the state, highlighting the automaker’s role in setting standards for quality employment in the region. “You cannot think of the Bluegrass region and Scott County without thinking of Toyota,” Beshear remarked, expressing gratitude for Toyota’s billion-plus investment and its contribution to Kentucky’s economy.

Toyota Announces $1.3 Billion Investment in Kentucky for Electric Vehicle Production

Toyota Announces $1.3 Billion Investment in Kentucky for Electric Vehicle Production

Since establishing its operations in Kentucky in 1986, Toyota Kentucky has been at the core of the automaker’s North American production, assembling some of Toyota’s most popular models, including the Camry—the best-selling passenger car in America for 22 consecutive years. Kerry Creech, president of Toyota Kentucky, underscored the investment as a testament to the company’s commitment to vehicle electrification and its U.S. operations. “Generations of our team members helped prepare for this opportunity, and we will continue leading the charge into the future by remaining true to who we are as a company and putting our people first for generations to come,” Creech stated.

See also  CareScout engages Tata Consultancy Services for long term care marketplace

Toyota’s dedication extends beyond manufacturing, with a strong emphasis on investing in operational communities, particularly in education and workforce development. Over the past four decades, Toyota’s contributions exceeding $154 million have significantly impacted Kentucky, supporting 48 education and workforce training initiatives in 2023 alone.

Chris Cohelia, a group leader at Toyota Kentucky, shared his personal journey with the company, highlighting job stability, competitive pay, and growth opportunities as key factors of his longstanding employment. “It’s also exciting to be a part of the team building Toyota’s first battery electric vehicle in North America,” Cohelia added.

See also  Ligand Pharmaceuticals to acquire protein therapeutics developer Pfenex

Since 2021, Toyota has announced new investments totaling $17 billion in its U.S. manufacturing operations to bolster electrification efforts. Increasing BEV assembly in North America underscores Toyota’s commitment to a diverse portfolio approach to electrification and to manufacturing vehicles in the markets where they are sold.

Toyota’s $1.3 billion investment in its Kentucky facility is a significant milestone in the automotive industry’s shift towards electrification. It not only reinforces Toyota’s position as a leader in innovation and quality vehicle production but also highlights the company’s strategic approach to integrating electric vehicles into its North American lineup. This move is poised to enhance Toyota’s competitiveness in the electric vehicle market, support job stability, and contribute to the economic development of Kentucky, setting a precedent for future investments in the automotive sector.

Share This