Toyota to Invest $912 Million in U.S. Factories for Hybrid Vehicle Production
Toyota announced on Tuesday that it will be investing $912 million in five of its U.S. factories to meet the growing demand for hybrid vehicles.
This investment is part of Toyota’s larger plan to spend up to $10 billion over the next five years in the United States. It comes at a crucial time for the automotive industry as they navigate challenges such as tariffs and the expiration of federal tax credits for electric vehicles.
The investment will be allocated to factories in West Virginia, Kentucky, Mississippi, and Missouri, with a focus on expanding production lines for components used in hybrid vehicles.
Specifically, $125 million will be used to enable the production of the hybrid-electric Toyota Corolla, marking the first time this model will be assembled in the United States. The majority of the investment, approximately $453 million, will be dedicated to expanding production of 4-cylinder hybrid-compatible engines, sixth-generation hybrid transaxles, and rear motor components at Toyota’s Buffalo, West Virginia plant.
