Toyota to invest $1.3B at Georgetown, Kentucky, factory to build battery packs and new electric SUV
ABC News
Toyota says it will invest $1.3 billion at its huge factory complex in Georgetown, Kentucky, in part so it can build an all-new three-row electric SUV to be sold in the U.S. The company says the money will help with future electric vehicle production, ...
GEORGETOWN, Ky. -- Toyota says it will invest $1.3 billion at its huge factory complex in Georgetown, Kentucky, in part so it can build an all-new three-row electric SUV to be sold in the U.S.
The company says the money will help with future electric vehicle production, including the addition of a line to assemble battery cells into packs for other EVs. But it won't add any new jobs to the complex, which now employs nearly 9,400 workers.
The investment brings to nearly $10 billion the amount of money that Toyota has spent at the plant, the company said in a statement Tuesday.
Toyota wouldn't give further details about the new SUV, including its price or when it would arrive in showrooms.
In October Toyota said it would invest another $8 billion at a hybrid and electric vehicle battery factory it's building in North Carolina, more than doubling previous investments and the expected number of new jobs.
