Toyota: $1.3 billion for a new electric SUV | Car News

Toyota may not be the most aggressive when it comes to electrification, but it’s not wearing blinders either. The auto giant is well aware that certain EV segments are likely to be highly coveted over the next few years.

The Japanese automaker announced yesterday that it will be investing $1.3 billion in its American plant in Kentucky, in order to assemble a three-row electric SUV. 2024 Toyota BZ4 Photo: Toyota The new investment comes on top of what Toyota has already announced for its Kentucky plant, where electrification is becoming increasingly important. In all, Toyota has poured some $10 Billion in investments into the facility in recent years.

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