Toyota Motor North America Inc, the US-based subsidiary of Japanese automaker Toyota Motor Corporation, announced that it plans to invest US 1 billion in its Kentucky and Indiana plants, to introduce new products that better meet the diverse needs of the company’s US customers.
Toyota confirmed that the investment is part of the up to US$ 10 billion five-year investment plan announced last November, as part of the company’s strategy of “investing and producing locally, contributing to the local community, and offering diverse options tailored to local needs through a multi-pathway strategy.” The automaker confirmed that it employs approximately 50,000 people in the US and has been involved in the development and manufacture of over 35 million vehicles across 11 manufacturing plants to date.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Of the US$ 1 billion investment, US$ 800 million will be spent on the Kentucky plant to introduce new battery electric vehicle (BEV) models and increase production capacity for the Camry midsize sedan and RAV4 SUV models. A total of US$ 200 million will be invested in the Indiana plant to increase production capacity for the Grand Highlander SUV.
Toyota’s Kentucky plant is the company’s largest production facility globally, with a capacity to produce 550,000 vehicles and over 600,000 engines annually.
