Toyota said it will invest $1 billion in its U.S. manufacturing operations, with the bulk of the funding earmarked for its Kentucky plant as the company prepares to expand electric vehicle production in the country.
Around $800 million will be allocated to the Georgetown facility in Kentucky to support the production of a second battery-electric model for the U.S. market, alongside upgrades for existing combustion models such as the Toyota Camry and Toyota RAV4.
The automaker has not disclosed details about the upcoming electric model. Industry speculation suggests it could include an electric SUV based on the RAV4, a larger vehicle such as a battery-electric version of the Toyota Land Cruiser, or potentially a new model under its luxury division Lexus. Toyota has not confirmed any of these possibilities.
The announcement coincided with celebrations marking the 40th anniversary of Toyota’s Kentucky plant, its largest global production site, where more than 14 million vehicles have been built to date.
Andy Beshear highlighted the long-standing partnership between the state and the automaker. “Kentucky changed for the better 40 years ago when Toyota chose to make Georgetown its New Kentucky Home, and I am proud to say that partnership and success continues today as we celebrate this remarkable milestone together,” he said.
The remaining $200 million will be invested in Toyota’s Indiana plant to expand production of the Toyota Grand Highlander, a larger variant of the Highlander designed for increased passenger capacity. The facility also produces the Sienna minivan and the Lexus TX.
