Toyota announced today that it will invest $1.3 billion in the development of future electric vehicles at its flagship Kentucky facility.
The Japanese automaker said it would bring an all-new, three-row battery electric SUV to the U.S. market thanks to the investment. Toyota has now committed nearly $10 billion in investments to the Kentucky plant, aiming to build high-quality vehicles and offer job stability to its employees at the factory.
The investment is also set to support the addition of a battery pack assembly line to the Kentucky plant. The batteries used in the packs assembled in Kentucky will come from Toyota’s Battery Manufacturing Plant in North Carolina.
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