Toyota Motor to Invest $1 Billion in Kentucky, Indiana

MT Newswires Live

2 hours ago

Toyota Motor (TM) said Monday it plans to invest $1 billion across its operations in Kentucky and Indiana to expand manufacturing and support electrification.

The automaker said $800 million will be allocated to its Kentucky facility to prepare the plant for a second battery EV and increase production of the Camry and RAV4.

Additionally, $200 million will be invested in the company's Indiana plant to increase capacity for the Grand Highlander, Toyota Motor said.

The investment is part of Toyota's previously announced plan to invest up to $10 billion in US operations over a five-year period, the company said.

Shares of the company were up 2.2% in Monday trading.

Price: 209.22, Change: +4.20, Percent Change: +2.05

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