{"id":146690,"date":"2024-02-07T12:10:45","date_gmt":"2024-02-07T11:10:45","guid":{"rendered":"https:\/\/newmobility.news\/?p=146690"},"modified":"2024-02-07T11:52:35","modified_gmt":"2024-02-07T10:52:35","slug":"toyota-invests-13-billion-in-the-u-s-for-ev-production-and-expects-record-profits","status":"publish","type":"post","link":"https:\/\/newmobility.news\/en\/2024\/02\/07\/toyota-invests-13-billion-in-the-u-s-for-ev-production-and-expects-record-profits\/","title":{"rendered":"Toyota invests $1.3 billion in the US for EV production and expects record profits"},"content":{"rendered":"
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Toyota Motor Corp. said Tuesday it will invest $1.3 billion in its Kentucky factory in the United States. The investment is part of the preparation to begin producing its first electric vehicles in the country in 2025. Meanwhile, the world's number-one car manufacturer expects record net profit even as quality scandals bite.<\/p>\n<\/div>

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The new investment will add a battery pack assembly line to the plant, slated to produce three-row electric sport utility vehicles. The automaker said that Toyota's new battery plant in North Carolina will supply the batteries.<\/div>\n

Flagship plant<\/h4>\n
The move comes as the Japanese company announced last year it will make the Kentucky plant, one of its flagship factories in the United States, the company's first location for producing all-electric vehicles in the country. The plant, which employs over 9,000 people, currently produces the Camry sedan and the RAV4 hybrid SUV.<\/div>\n
<\/div>\n
Japanese automakers are ramping up their production capacity in the United States so that their EVs are eligible for tax breaks offered under the administration of President Joe Biden and the IRA or Inflation Reduction Act, which requires vehicles to be built in North America.<\/div>\n
<\/div>\n
\u00a0Kentucky Governor Andy Beshear said, \"We are grateful that they continue to invest in our commonwealth and set a standard for high-quality, well-paying jobs for our citizens. \"<\/div>\n<\/div>\n<\/div>
This content has been archived. Log in or Subscribe<\/a> to a level that has access to archived content.<\/div><\/div>","protected":false},"excerpt":{"rendered":"

Toyota Motor Corp. said Tuesday it will invest $1.3 billion in its Kentucky factory in the United States. The investment is part of the preparation to begin producing its first electric vehicles in the country in 2025. Meanwhile, the world’s number-one car manufacturer expects record net profit even as quality scandals bite. The new investment […]<\/p>\n","protected":false},"author":13,"featured_media":146704,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[2043,16,4],"tags":[],"class_list":["post-146690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-industry","category-top-stories-today"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=1068%2C680&ssl=1",1068,680,false],"thumbnail":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=300%2C191&ssl=1",300,191,true],"medium_large":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=640%2C408&ssl=1",640,408,true],"large":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=640%2C408&ssl=1",640,408,true],"1536x1536":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=1068%2C680&ssl=1",1068,680,true],"2048x2048":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=1068%2C680&ssl=1",1068,680,true],"trp-custom-language-flag":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=18%2C12&ssl=1",18,12,true],"related-thumb":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=640%2C480&ssl=1",640,480,true],"gform-image-choice-sm":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=300%2C300&ssl=1",300,300,true],"gform-image-choice-md":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=400%2C400&ssl=1",400,400,true],"gform-image-choice-lg":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=600%2C600&ssl=1",600,600,true],"mailchimp":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?fit=560%2C357&ssl=1",560,357,true],"unipress-phone":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=640%2C100&ssl=1",640,100,true],"unipress-tablet":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=1068%2C240&ssl=1",1068,240,true],"unipress-tablet-portrait":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=1068%2C180&ssl=1",1068,180,true],"unipress-tablet-landscape":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=1068%2C180&ssl=1",1068,180,true],"unipress-smartphone":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=1068%2C168&ssl=1",1068,168,true],"unipress-wide-screen":["https:\/\/i0.wp.com\/newmobility.news\/wp-content\/uploads\/2024\/02\/Schermafbeelding-2024-02-07-om-10.27.08.png?resize=1068%2C180&ssl=1",1068,180,true]},"post_excerpt_stackable_v2":"

Toyota Motor Corp. said Tuesday it will invest $1.3 billion in its Kentucky factory in the United States. The investment is part of the preparation to begin producing its first electric vehicles in the country in 2025. Meanwhile, the world’s number-one car manufacturer expects record net profit even as quality scandals bite. The new investment will add a battery pack assembly line to the plant, slated to produce three-row electric sport utility vehicles. The automaker said that Toyota’s new battery plant in North Carolina will supply the batteries. Flagship plant The move comes as the Japanese company announced last year…<\/p>\n","category_list_v2":"Energy<\/a>, Industry<\/a>, Top Stories Today<\/a>","author_info_v2":{"name":"Tony Verhelle","url":"https:\/\/newmobility.news\/en\/author\/toverbel\/"},"comments_num_v2":"0 comments","yoast_head":"\nToyota invests $1.3 billion in the US for EV production and expects record profits - newmobility.news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmobility.news\/en\/2024\/02\/07\/toyota-invests-13-billion-in-the-u-s-for-ev-production-and-expects-record-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Toyota invests $1.3 billion in the US for EV production and expects record profits - newmobility.news\" \/>\n<meta property=\"og:description\" content=\"Toyota Motor Corp. said Tuesday it will invest $1.3 billion in its Kentucky factory in the United States. 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