Toyota, Japan’s largest car manufacturer, announced today a $1 billion investment in its factories in Kentucky and Indiana, in the United States, to increase production capacity for electric vehicles and hybrid models.
Of the total amount, the factory located in Kentucky will receive $800 million (around €690 million) to prepare assembly lines for new electric models, as well as to boost production of the Toyota Camry and Toyota RAV4, the company detailed in a press release.
The Indiana plant will receive an additional $200 million (around €172 million) to increase production capacity for the Toyota Grand Highlander.
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The announcement is part of the expansion plan unveiled by Toyota in November last year, under which the company committed to investing $10 billion (€8.6 billion) in the country over five years.
With this move, the Japanese company’s cumulative investment in the United States rises to $60 billion (€51.795 billion) since it began operations in the country seven decades ago.
