Toyota Plans Battery-Electric SUV, Battery Plant Expansion

By Colin Kellaher

Toyota Motor on Wednesday unveiled plans to build a three-row, battery-electric SUV in Kentucky and to invest an additional $2.1 billion in a battery plant under construction in North Carolina, as the automaker advances its electric-vehicle strategy.

Toyota said the planned SUV, slated to being production in 2025, would be its first U.S.-assembled battery-electric vehicle and will use batteries from the plant it is building in North Carolina.

Toyota said it is investing another $2.1 billion in the plant for new infrastructure to support future expansion, bringing its total investment to $5.9 billion.

Production at the plant is slated to begin in 2025 with six battery production lines, including four for hybrid-electric vehicles and two for battery-electric vehicles.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 31, 2023 12:06 ET (16:06 GMT)

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