Toyota has injected $1.3 billion into its Kentucky plant, enabling the production of electric vehicles (EVs) and a new three-row electric SUV specifically designed for the US market.
The investment supports the previously announced development of a next-generation battery-electric vehicle (BEV) production line at Toyota’s manufacturing facility in Kentucky. Toyota has also established a battery pack production line, supplied with batteries from its own subsidiary, Toyota Battery Manufacturing North Carolina.
“The announcement, said Kerry Creech, president of Toyota Kentucky, underscores our commitment to electric vehicle innovation and reaffirms our investment in American operations.”
Toyota has announced plans to invest an additional $8 billion in its North Carolina-based electric vehicle (EV) battery plant, originally established in December 2021, to manufacture batteries for its electric vehicles and plug-in hybrid electric vehicles (PHEVs). The project is expected to be ready by next year.
Electrek’s Take
Toyota’s electric vehicle (EV) funding announcement signals a significant milestone in its transition towards electrification, with fingers crossed that this marks a crucial turning point for the long-standing laggard to accelerate its EV efforts.
Despite significant investments in electrification initiatives, Toyota’s history is marred by creative liberties with the definition of electrification, promoting its hybrids as electric vehicles in advertisements and touting hydrogen fuel cells, while skirting the truth about actual electric vehicle development.
The article claims to offer 26 “electrified” fashion options, but in reality, only supplies two battery-electric vehicles: the bZ4X SUV and the Lexus RZ. What’s the opposite of 24? Hybrid fashion trends, actually, is a bit of a cop-out.
As part of its “Electrified Diversified” marketing campaign, Toyota is attempting to rebrand fossil fuel-powered vehicles as integral to its strategy for achieving carbon neutrality.
Dow explains:
. The automotive sector relies almost exclusively on energy from fossil fuels, perpetuating a cycle of pollution that claims thousands of lives worldwide each year. While you can’t directly fuel a Prius with carbon-neutral power, the vehicle is designed to run on electricity when possible, reducing its overall emissions impact.
Despite Toyota’s reputation for caution, its hesitancy in embracing electric vehicles (EVs) stems from a perceived need for the market and industry expertise to mature before meeting its standards for reliability and effectiveness.
While Toyota’s shift towards electric vehicles has been slow-moving, its sudden commitment to invest in the technology belies the company’s earlier lack of conviction, which some argue borders on greenwashing, potentially misleading customers about its commitment to sustainability.
As Toyota seemingly pivots, this strategic shift may indicate a departure from its earlier reluctance to acknowledge the growing importance of BEVs within the US market. If it does not persist, its nation’s house will perish?
