The Japanese automobile manufacturer announced on Monday that Toyota will invest 1.3 billion dollars in its Georgetown, Kentucky factory.
The Kentucky plant will be the first in the world to manufacture automobiles using the company’s latest tech platform, i.e. Toyota New Global Architecture, which is aimed at speeding both the manufacturing process and the design of future automobiles.
According to the statement released by Toyota Motor Manufacturing Kentucky Inc, the Japanese car giant’s 1.33 billion dollars announcement on Monday is part of its larger plan, which aims to invest 10 billion dollars in the next five years. That would be on top of the 22 billion Toyota has already invested in the United States in the last 6 decades.
The plant in Georgetown Kentucky makes for Toyota’s largest facility in the world, boasting its 8200 employees. Last year, this factory manufactured over half a million vehicles, which makes for 25% of all Toyota units that were sold in the US. The Georgetown plant manufactures Lexus and Toyota Camry models.
Kentucky’s Governor Matt Bevin commented:
“Toyota is a global icon. This $1.33 billion investment is further proof of their commitment to producing American-made cars that are among the finest quality found anywhere in the world,” It also serves as a testament to the hard work and dedication of the plant’s current employees, and reaffirms Toyota’s confidence in the advantages of manufacturing in Kentucky.”
Back in January 2017, Toyota announced a six hundred million dollars investment at its plant in Princeton Indiana, together with the creation of 600 new jobs.