Japanese car manufacturer Toyota has announced plans to invest $1.3bn in its electric vehicle (EV) plant in Georgetown, Kentucky, US.
The latest financing round will help Toyota add a battery pack assembly line to the facility, with batteries supplied by Toyota Battery Manufacturing North Carolina. Last year, in November, the Japanese car giant said it would invest up to $8bn to expand its North Carolina battery plant in a move to bolster the production of EVs and hybrid models across the US.
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The $1.3bn allocated to the Kentucky plant will bring Toyota’s total investments there to nearly $10bn. Since 2021, the company has announced several rounds of investment, totalling $17bn in value, in its US manufacturing operations.
Kentucky Governor Andy Beshear said: “You cannot think of the Bluegrass region and Scott County without thinking of Toyota. We are grateful that they continue to invest in our commonwealth and continue to set a standard for high-quality, well-paying jobs for our citizens.”
Toyota’s plant in Georgetown is one of the largest in the US with 9,400 employees working on assembly lines to produce several car models for the US market. The company employs more than 11,000 people in Kentucky, or almost a quarter of the total number of workers employed across its US manufacturing operations (49,000).
“Today’s announcement reflects our commitment to vehicle electrification and further reinvesting in our US operations,” said Kerry Creech, president of Toyota Kentucky. “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.”
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