Toyota is making another major push into hybrid manufacturing in the United States. The company announced a $912 million investment across five plants to meet rising demand and bring hybrid-electric Corollas to its U.S. lineup for the first time.
What’s Related
The investment is part of Toyota’s larger plan to invest up to $10 billion in the U.S. over the next five years, and expand its footprint in West Virginia, Kentucky, Mississippi, Tennessee, and Missouri.
“Customers are embracing Toyota’s hybrid vehicles, and our U.S. manufacturing teams are gearing up to meet that growing demand,” said Kevin Voelkel, senior vice president of manufacturing operations. “Toyota’s philosophy is to build where we sell, and by adding more American jobs and investing across our U.S. footprint, we continue to stay true to that philosophy.”
Where the money is going
Here’s a look at how Toyota will distribute the $912 million investment:
West Virginia – $453 million to boost hybrid engine and transaxle production
Kentucky – $204.4 million for a new machining line for hybrid engines
Mississippi – $125 million to launch hybrid-electric Corolla production
Tennessee – $71.4 million to expand casting operations for hybrid parts
Missouri – $57.1 million to add a new cylinder head line for hybrid vehicles
Toyota said several plants will begin production on new hybrid lines starting in 2027.
Confusion over investments
In recent weeks, the discussion around Toyota Motor Corporation’s U.S. investment has gotten a bit complicated. The company initially denied a specific new $10 billion commitment. Last week, however, it confirmed plans to invest up to that amount in the U.S. over five years after opening a $13.9 billion battery plant in North Carolina.
“Today’s launch of Toyota’s first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company’s history,” said Ted Ogawa, CEO of Toyota Motor North America. “Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers.”
