Toyota Invests $1 Billion in U.S. EV Plant Expansions

Toyota Motor North America announced a $1 billion investment in two of its U.S. manufacturing plants on Monday, allocating the funds to expand production capacity for electric vehicles and popular models amid growing demand for diverse powertrains.

The bulk of the investment, $800 million, will go to the company's Georgetown, Kentucky, facility, its largest vehicle manufacturing plant worldwide. This funding will prepare the site for production of a second battery electric vehicle, following the upcoming three-row Highlander BEV scheduled for release in late 2026. The plant will also increase output of the Camry sedan and RAV4 crossover. The remaining $200 million targets the Princeton, Indiana, plant to boost production of the Grand Highlander SUV, which joins the Sienna minivan and Lexus TX on the assembly lines there. Both facilities produce hybrid and gasoline versions of several models, with the Sienna available only as a hybrid.

The announcement forms part of Toyota's broader pledge in November 2025 to invest up to $10 billion across its U.S. operations over the next five years, bringing the company's cumulative U.S. investment to nearly $60 billion since entering the...