Toyota invests billions in US factories for electric SUV production.
TL;DR Summary
Toyota will build a new battery-electric three-row SUV in its Kentucky factory starting in 2025, with batteries coming from North Carolina. The company is spending $2.1 billion on its battery facility in North Carolina and a total of $5.9 billion on battery manufacturing in North America. Changes to tax incentives and fuel efficiency regulations have pushed Toyota to invest in US BEV-building infrastructure, despite its previous reluctance to build more BEVs.
- Toyota to build electric 3-row SUV in Kentucky, batteries in N. Carolina Ars Technica
- Toyota to invest $2.1B more in NC factory, upping total to $5.9B WRAL TechWire
- Toyota expands NC plant capital investment pledge to $5.9B Winston-Salem Journal
- Toyota Will Produce New All-Electric SUV In Kentucky Starting In 2025 InsideEVs
- Toyota To Invest An Additional $2.1 Billion At Megasite - The Rhino Times of Greensboro The Rhino TImes
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