New article: Toyota announced a $1.33 billion investment in Kentucky plant read more at here http://www.spinonews.com/index.php/economic2/item/3278-toyota-announced-a-1-33-billion-investment-in-its-georgetown-kentucky-plant

Automobile manufacturer Toyota announced a $1.33 billion investment in its Georgetown, Ky., plant.

A Toyota Motor Manufacturing, Kentucky, Inc., said, the plant will be the first to produce vehicles using Toyota New Global Architecture, a design and manufacturing process initiated to speed a car model's development cycle.

Jim Lentz, CEO of Toyota Motor North America, said, This $1.33 billion investment is part of Toyota's plan to invest $10 billion dollars in the U.S. over the next five years, on top of the nearly $22 billion Toyota has invested in the U.S. over the past 60 years.

The Georgetown plant is Toyota's largest in the world, with 8,200 employees. In 2016 it produced 500,000 vehicles, or 25 percent of all Toyota models sold in North America, the statement said. It manufactures the Toyota Camry model, and Lexus models.

Toyota is a global icon. This $1.33 billion investment is further proof of their commitment to producing American-made cars that are among the finest quality found anywhere in the world.

It also serves as a testament to the hard work and dedication of the plant's current employees, and reaffirms Toyota's confidence in the advantages of manufacturing in Kentucky.

 

In January the company announced a $600 million investment at its Princeton, Ind., plant, and the creation of 600 new jobs. It said at the time the expansion was part of its strategy to "build vehicles where they are sold."