Toyota will move forward with an investment package of one billion dollars (around 862 million euros at the current exchange rate) aimed at reinforcing the production capacity of its factories in Kentucky and Indiana (USA), with a view to increasing the production of electric vehicles and hybrid models, the car manufacturer announced this Tuesday, 24th.
Of the total amount, 800 million dollars (approximately 690 million euros) will be invested in the Kentucky unit to adapt assembly lines to new electric models and expand production of the Camry and RAV4.
In Indiana, the factory will receive 200 million dollars (around 172 million euros) to expand the capacity of the Grand Highlander model.
This initiative is part of the expansion plan announced in November, in which Toyota committed to investing ten billion dollars (approximately €8.6 billion) in the United States over five years.
With this new contribution, the total invested by the Japanese manufacturer in the North American market since the beginning of operations approaches 60 billion dollars (more than 51 billion euros) over seven decades.
Leave a Reply