Toyota to invest $1.3 bil. in Kentucky plant for EV production
Toyota Motor Corp. said Tuesday it will invest $1.3 billion in its Kentucky factory in the United States as it prepares to begin production of its first electric vehicles in the country there in 2025.
The new investment will add a battery pack assembly line to the plant, which is slated to produce three-row electric sport utility vehicles. The batteries will be supplied by Toyota’s new battery plant in North Carolina, the automaker said.
The move comes as the Japanese company announced last year it will make the Kentucky plant, one of its flagship factories in the United States, the company’s ...