Toyota to invest $1.3B at Georgetown, Kentucky, factory to build battery packs and new electric SUV
Toyota says it will invest $1.3 billion at its huge factory complex in Georgetown, Kentucky, in part so it can build an all-new three-row electric SUV to be sold in the U.S. The company says the money will help with future electric vehicle production, including the addition of a line to assemble battery cells into packs for other EVs
By AP News
Published - Feb 06, 2024, 12:39 PM ET
Last Updated - Feb 06, 2024, 12:39 PM EST
GEORGETOWN, Ky. (AP) — Toyota says it will invest $1.3 billion at its huge factory complex in Georgetown, Kentucky, in part so it can build an all-new three-row electric SUV to be sold in the U.S.
The company says the money will help with future electric vehicle production, including the addition of a line to assemble battery cells into packs for other EVs. But it won't add any new jobs to the complex, which now employs nearly 9,400 workers.
The investment brings to nearly $10 billion the amount of money that Toyota has spent at the plant, the company said in a statement Tuesday.
Toyota wouldn't give further details about the new SUV, including its price or when it would arrive in showrooms.
