Toyota to invest $1 billion to up U.S. production in Kentucky, Indiana
CNBC • • general
Key Points:
- Toyota Motor announced a $1 billion investment in two U.S. plants as part of a broader plan to invest up to $10 billion domestically over the next five years.
- The investments include $800 million at the Georgetown, Kentucky plant to boost production of the Camry sedan and RAV4 crossover, and $200 million at the Princeton, Indiana plant to increase capacity for the Grand Highlander SUV.
- Toyota emphasizes its long-term commitment to the U.S. market, aligning with its strategy of building vehicles where it sells them and sourcing locally.
- The investment follows ongoing challenges in the automotive industry related to tariffs and trade policies under the Trump administration, which have increased costs for automakers like Toyota.
- Toyota has actively engaged with U.S. political leadership, including efforts by Chair Akio Toyoda to strengthen ties, and was the first Japanese automaker to commit to exporting U.S.-made vehicles to Japan under recent trade agreements.
