Toyota to invest $1.3 billion in US plant for new electric vehicle.

Japan-based automaker Toyota announced that it will invest $1.3 billion in its Kentucky plant for future electrification work, including the assembly of its all-new, three-row electric SUV for the US market. The new investment brings Toyota’s total investment in the plant to nearly $10 billion, the company said in a statement. In the statement, it was reported that $1.3 billion will be invested in the plant in Kentucky for future electrification work, including the assembly of an all-new, three-row electric SUV vehicle for the US market.
The investment will support the company’s previously announced electric vehicle assembly at the Kentucky plant, and a battery assembly line will also be added to the plant. Toyota’s production facility in Kentucky has been the center of the automaker’s North American operations since 1986. It is noted that the facility, which employs approximately 9,400 workers, has the capacity to produce 550 thousand vehicles per year.