Toyota ups U.S. investment to $13 billion

Enlarge ImageToyota's factories in Alabama and Kentucky are about to get a big cash injection from HQ in order to offset potential tariffs.                  Toyota

The Georgetown plant also builds Camry, Camry Hybrid, Avalon, Avalon Hybrid, and Lexus ES models with an annual capacity of 550,000 vehicles. While production for the new engine lines won't start until 2020, the plant is going to start filling the 450 needed positions immediately. BIG NEWS for U.S. Auto Workers!

The RAV4 production doesn't signal a shift away from sedan production at the sprawling Kentucky plant, Toyota executives said.

Toyota now manufactures the Camry, Avalon, Lexus ES 350, Camry hybrid and Avalon hybrid at the Georgetown facility.

"Since my time as governor, I've had the great pleasure of working with Toyota officials to build on their initial investment in our state, which now totals more than $1.4 billion and is directly responsible for 1,600 good-paying jobs".

Gov. Matt Bevin praised the announcement, saying, "To see this progress, to have a partner like Toyota, to be able to have somebody that is as truly as fine a corporate citizen of the world - and I mean this with respect to every other company, many of whom are here - I cannot think of a finer. corporate citizen as Toyota has been, at every turn, in every community, how blessed we are to have you". The company is funneling $288 million into the Huntsville plant.

Toyota said it will exceed a 2017 pledge to invest $10 billion over five years with a new commitment to reach almost $13 billion over the same period, including Thursday's announcement.

Toyota announced several multi-million dollar investments Thursday that will benefit West Virginia and Kentucky. Then the next year they'll begin building the V6 engine.

$50 million to expand and upgrade equipment at a Bodine plant in Jackson, Tenn. We are immensely proud that the Bluegrass State is home to Toyota's largest manufacturing operation, and we enthusiastically support this substantial investment to address the rising demand for hybrid vehicles.

"We are proud to add such a significant cost investment to Toyota West Virginia - not only financially but also in adding team members to the Toyota family", stated Leah Curry, president of Toyota Manufacturing West Virginia. There was also $170 million targeted to launch the 2020 Corolla on a new production line in Blue Springs, Miss.

"One-third of Toyota vehicles built in North America are powered by engines produced right here", said Clark.