Toyota to Invest $238 Million in Kentucky Plant, Add Two Vehicles
GEORGETOWN, KY—Toyota Motor Corp. will invest $238 million in its plant here and add production of two vehicles as part of a plan to ramp up spending on its U.S. operations. The company recently announced plans to spend nearly $750 million in five states, according to a news release, reports Louisville Business First. Toyota also said it will exceed its 2017 pledge to invest $10 billion over five years with a new commitment to reach nearly $13 billion in the same period.
At the Georgetown plant, production of the Lexus ES 300h hybrid will begin in May, with annual capacity of 12,000 units. In January 2020, it will begin production of the RAV4 Hybrid, with an annual capacity of 100,000 units.
The Georgetown plant is Toyota's largest facility in the world. It has 8,000 employees who also build Camry, Camry Hybrid, Avalon, Avalon Hybrid and Lexus ES models with an annual capacity of 550,000 vehicles. With this investment, the company will have spent more than $7 billion on the plant.