Toyota Invests $800 Million for Second US EV - What Will It Be?
...Source: Transcript: Per InsideEVs, Toyota is leaning harder into U.S.-built Electric Vehicles, announcing a $1 billion investment split between two Midwest plants. About $800 million is headed to Toyota’s Georgetown, Kentucky factory to build a second U.S.-made electric model and to ramp up Camry and RAV4 production. Another $200 million will expand Grand Highlander output at Toyota’s Princeton, Indiana plant, which also builds the Sienna minivan and Lexus TX.
The first Kentucky-built Electric Vehicle is the upcoming three-row electric Toyota Highlander, and InsideEVs says it’ll become an Electric Vehicle-only nameplate after gas Highlander production ends this year. Toyota still hasn’t named the second electric model, but previous reporting has pointed to an electric SUV based on the RAV4 or Land Cruiser—potentially something like the Land Cruiser Se concept—or even a Lexus-branded SUV. Toyota is also rapidly refreshing its lineup for 2026, including an updated bZ with a native NACS charging port, plus the new C-HR and bZ Woodland.