(The Center Square) – Toyota made its plans public to increase its investment at the Georgetown, Kentucky plant to $1.3 billion and create its first U.S. electric vehicle line.
This investment expands the May 2023 plan to spend $591 million toward hiring 700 new employees at the Toyota Motor Manufacturing, Kentucky plant.
“You cannot think of the Bluegrass region and Scott County without thinking of Toyota,” Gov. Andy Beshear said. “We are grateful that they continue to invest in our commonwealth and continue to set a standard for high-quality, well-paying jobs for our citizens.”
Toyota said production should begin soon on an all-electric SUV, with batteries from a factory in North Carolina.
The total value of the TMMK plant is now $10 billion.
“The new announcement of the continued investment and reinvestment in the Georgetown/Scott County Toyota facility is further evidence of the strong economy in our community and the commitment Toyota continues to make to our city, county, region and state,” Jack Conner, executive director of Scott County United, Inc. said.
The plant was Toyota’s first to manufacture hybrid EVs, beginning in 2006. The Kentucky facility was later selected to assemble fuel cell modules for hydrogen-powered, heavy-duty commercial trucks. The plant is expected to play a major role in Toyota’s global electrification strategy, to offer electric or hybrid options of every vehicle model by 2025.
“Today’s announcement reflects our commitment to vehicle electrification and further reinvesting in our U.S. operations,” said Kerry Creech, president of Toyota Kentucky. “Generations of our team members helped prepare for this opportunity, and we will continue leading the charge into the future by remaining true to who we are as a company and putting our people first for generations to come.”
The plant is Toyota’s largest production facility worldwide. Opened in 1988, the plant employs about 9,400 people total.