Toyota, a Japanese automaker, has announced plans to introduce a new three-row battery electric SUV to the U.S. market following a significant investment. This investment, totaling nearly $10 billion, is aimed at the Kentucky plant to produce high-quality vehicles and provide job stability for its employees. It also involves the addition of a battery pack assembly line to the plant. Sean Hanley, VP of Sales and Marketing at Toyota Australia, expressed excitement about the company’s commitment to entering the EV market and emphasized the importance of considering multiple pathways to achieve carbon neutrality.
Despite this, Toyota has been investing heavily in EV development in various regions and sees Kentucky as a prime location for expanding its EV program. Kerry Creech, President of Toyota Kentucky, highlighted the company’s dedication to vehicle electrification and reinvesting in its U.S. operations, with a focus on putting its people first. Overall, Toyota has announced investments of around $17 billion to advance battery electric vehicle development in the United States.