Toyota invests $1B in US plants, prepares second EV
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- Toyota announced a $1 billion investment to upgrade its Kentucky and Indiana factories, earmarking $800 million for Kentucky and $200 million for Indiana.
- Kentucky plant will be prepared for Toyota’s second battery‑electric vehicle and will also boost RAV4 and Camry output.
- Indiana plant will ramp up production of the Grand Highlander SUV, joining the Sienna minivan at the east plant while the west plant continues building it alongside the Lexus TX.
- Grand Highlander BEV, a three‑row electric SUV slated for later this year, will be the first U.S.-made EV from the Kentucky plant.
- Nikkei reported that Toyota may add two new electric SUVs based on the RAV4 and Land Cruiser to replace the outgoing Lexus ES, a claim Toyota neither confirmed nor denied.
- Toyota is expanding its U.S. electric lineup with the bZ4X, C‑HR, bZ Woodland and the upcoming Grand Highlander BEV, while rivals such as Ford, GM and Stellantis are scaling back EV plans.
Why it matters: The $1 billion infusion accelerates Toyota’s U.S. EV rollout, giving the automaker a head‑start as rivals trim electric programs, and locks in additional capacity for popular models like the Grand Highlander, RAV4 and Camry, strengthening its market share while competitors lose momentum.
