Recently on 6th February 2024 Toyota officially announced that they are going to invest 1.3 Billion US Dollars in Kentucky for its upcoming future electric vehicles. As we know Toyota is the second-largest automaker in the whole world, and despite being the second-largest automaker, it has just one fully electric vehicle called the Toyota BZ4X till now. And that is also a mid-size two-row SUV.
As of now, it does not have any third-row electric vehicles in its lineup. That’s why Toyota is planning to invest $1.3 billion in Kentucky to build third-row electric SUVs. And, already Toyota has invested more amount in the United States to build future high-quality vehicles. Including this new 1.3 billion US dollars, Toyota has totally invested nearly $10 billion for future electrifications and new upcoming vehicles.
Toyota has also said that this project will bring around $10 billion in investment in these plants to reinforce that will create more high-quality vehicles and long-term job stability. However, Toyota had already made investments in Kentucky for future BEV projects that also do battery pack assembly. And this new project also supports the old one.
You will be shocked after knowing that Toyota Kentucky has been a hub of Automaker in operation in North America since 1986. And Toyota Kentucky has more than 9,400 team members who have made many more popular and more successful vehicles of Toyota. One of them is the Toyota Camry which has been the best-selling car in The America for last 22 years.
As well as Toyota Kentucky president Kerry Creech has said that this big investment makes history and builds trust and a strong bond between the Kentucky people and Toyota. And Toyota always helps people and is committed to giving the best service and high-quality vehicles.
As we know the Toyota lineup does not yet have any three-row electric SUV, and after this big investment you will see an all-new fully electric three-row SUV with a long electric range. And we assume that like its gasoline SUVs, its electric SUV will also break records in the United States. But as of now, the Company has not declared when its all-electric three-row SUV will debut. But we will update you here when the Company debuts its fully electric three-row SUV.
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