Toyota Motor Corporation announced that it will invest an additional $1.3 billion, or approximately 190 billion yen in Japanese yen, in its main factory in southern Kentucky next year in preparation for the production of EVs (electric vehicles) in the United States starting in 2025.
Last year, Toyota North America announced that it would start producing EVs at its main factory in the southern state of Kentucky in the United States, and on the 6th, it announced that it would invest an additional $1.3 billion, or approximately 190 billion yen in Japanese yen, in this factory.
The company plans to start producing EVs, three-row SUVs (sport sports vehicles) that are popular among families, at this plant.
This EV is planned to be equipped with batteries manufactured in North Carolina, and a battery pack assembly line will also be set up at a factory in Kentucky, with the aim of this investment being to establish a system for integrated EV production in the United States. .
Among Japanese manufacturers, Nissan Motor Co., Ltd. is producing EVs in the southern state of Tennessee, and Honda is also selling EVs jointly developed with GM (General Motors) in the United States from this year. The company plans to start producing EVs developed in-house at a factory in western Ohio, and the movement to expand EV production in the United States is in full swing.