TOYOTA WILL INVEST $1.3 BLN IN KENTUCKY FACILITY FOR NEW ELECTRIC SUV
Toyota's decision to invest $1.3 billion in its Kentucky facility for electrification efforts marks a significant commitment to the electric vehicle (EV) market. This investment includes the assembly of a new, three-row battery electric SUV tailored for the U.S. market. With this project, Toyota's total investment in the Kentucky plant reaches nearly $10 billion, highlighting the company's dedication to advancing its EV offerings and manufacturing capabilities. This move comes as some other automakers, like Ford, have adjusted their EV strategies to prioritize higher-margin hybrid and gasoline-powered models. Toyota's decision underscores the company's confidence in the growth potential of the EV market and its commitment to expanding its presence in this increasingly competitive sector.
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