The Toyota automotive assembly complex in Georgetown, Ken., is the target of a $1.3-billion capital investment that the automaker announced to support its plan for a new, three-row electric sport utility vehicle. Details of the investment were scarce, but the automaker confirmed that Toyota Motor Manufacturing, Kentucky, its largest assembly plant, will be the assembly location for the new e-SUV.
The project also includes an assembly line for EV battery packs, starting in 2025, as part of Toyota’s wider electrification program. Other details of the investment were scarce.
The production schedule and release date for the new e-SUV, as well as its price range, remain made known, but Toyota emphasized that new Kentucky project reinforces its commitment to future production for the North American market.
The investment is not expected to initiate any more jobs at the plant.
Last fall Toyota pledged $8 billion to hybrid and EV battery production at a new plant near Greensboro, N.C. In May 2023, Toyota committed $591 million for updates at Toyota Motor Manufacturing, Kentucky, its largest assembly plant.
According to details provided by the state, TMMK currently has 9,400 workers and has produced more than 12 million vehicles since assembly started there in 1986. Current production capacity is approximately 550,000 vehicles and 600,000 engines per year.
Toyota stated that the new project raises its total investment at the site to almost $10 billion.