Toyota investing $1.3 billion in Kentucky to build all-electric, three-row SUV
Publishing timestamp: 2024-02-06 13:13:38
Summary
Toyota Motor is investing $1.3 billion in its Kentucky plant to produce a new all-electric, three-row SUV for the U.S. market. The vehicle is expected to go into production between late 2025 and early 2026. This investment is part of Toyota's plans to invest $35 billion in battery-electric vehicles by 2030. The announcement comes as consumer adoption of EVs has been slower than expected, leading some automakers to delay or cut investment plans. Toyota continues to invest in hybrids, plug-in hybrids, and other technologies alongside EVs.
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Keywords: united states, toyota motor corp, electric vehicles, rivian automotive inc, breaking news: business, business news, business, environment, transportation, autos,