Toyota Plans Battery-Electric SUV, Battery Plant Expansion
May 31 2023 - 12:21PM
Dow Jones News
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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