Toyota investing $1.3B in US plant for electric vehicle

By Ovunc Kutlu

ISTANBUL (AA) - Japanese automaker Toyota is investing $1.3 billion in the US to manufacture electric vehicles (EVs).

"Today's announcement reflects our commitment to vehicle electrification and further reinvesting in our US operations," Kerry Creech, president of Toyota Kentucky, said Tuesday in a statement.

The company aims to manufacture a new all-electric, three-row SUV for the American market, while the vehicles are expected to go into production between late 2025 and early 2026.

The latest amount brings the total investment in the plant located at Georgetown, Kentucky to almost $10 billion since 1986.

The plant is Toyota's oldest assembly facility in the US, employing approximately 9,400 workers, and having a production capacity of around 550,000 per year.