Japan-based auto maker, Toyota, has announced plans to invest $383 million in four of its U.S. production plants building new Toyota and Lexus vehicles.
The new investment is aimed at supporting the production of four-cylinder engines, including options for hybrid electric vehicles, at its Alabama, Kentucky, Missouri, and Tennessee plants.
Toyota’s engine plant in Huntsville, Alabama, will get $222 million to build a new production line that can make both combustion and hybrid-electric powertrains. The remaining funds will then be split among factories in Kentucky, Missouri and Tennessee.
Toyota, which already represents more than half of all hybrid-vehicle sales in the US, was the top-selling carmaker in the country for the past two quarters
In 2021, the company announced new investments totalling $5.1 billion into its U.S. manufacturing operations to support electrification effort.
Honda to Invest $40 Billion in Electric Vehicles in the Next 10 Years
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