US Facilities · Automotive
Toyota to invest $1.33 billion to retool its Kentucky plant
- Company
- Toyota Motor (Toyota Motor Manufacturing, Kentucky) (Toyota City, Aichi)
- Project
- Toyota Motor Manufacturing, Kentucky, Georgetown, Kentucky
- Value
- $1.33B
- Status
- Announced on April 10, 2017; the work has been completed.
- Date
- 2017-04-10
Toyota said it would invest $1.33 billion in its Georgetown, Kentucky plant to switch it to the Toyota New Global Architecture (TNGA) production system, update equipment and build a new paint shop. The 2018 Camry was the first US-built Toyota to fully use TNGA. The investment did not add new jobs.
Why it matters
The retooling keeps Toyota's largest plant in the world current with its newest production methods and counts toward its $10 billion US pledge.
Scale of the investment
Toyota said the $1.33 billion was the largest investment by any automaker in Kentucky and the second-largest in the state's history. It added to $530 million committed in 2013, partly for Lexus production, bringing investment at the plant over four years to about $1.86 billion.
The Georgetown plant
The plant employed about 8,200 people, making it Toyota's largest plant worldwide, and had recently added more than 700 workers for the launch of the 2018 Camry. It was the first plant in North America to build vehicles on the TNGA platform.
Sources
Kakehashi M&A News home
