Toyota to invest $1 billion to increase U.S. production in Kentucky, Indiana plants
CNBC
Toyota on Monday announced $1 billion in investments in two U.S. plants as part of a plan to invest up to $10 billion domestically over the next five years.
Toyota Motor on Monday announced it would spend $1 billion at two U.S. plants as part of a plan to invest up to $10 billion domestically over the next five years.
The new investments include $800 million at a plant in Georgetown, Kentucky, to increase production capacity of the automaker's Camry sedan and RAV4 crossover. The remaining $200 million is to increase capacity for the Toyota Grand Highlander SUV at a plant in Princeton, Indiana.
"Toyota's investment in the U.S. is for the long-term, tied to our philosophy of building where we sell and buying where we build," Toyota Motor North America Chief Operating Officer Mark Templin said in a statement.
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