🧵 1. Toyota plans $1.3bn investment in Kentucky, including the assembly of a new electric SUV, as legacy automakers focus on higher-margin models. #business
🧵 1. Toyota plans $1.3bn investment in Kentucky, including the assembly of a new electric SUV, as legacy automakers focus on higher-margin models. #business
🧵 2. The Kentucky plant, employing 9,400 workers, will have a battery pack assembly line and will receive batteries from Toyota's North Carolina facility.
🧵 3. Toyota's investment supports the company's battery electric vehicle assembly plans, as it aims to capitalize on strong sales of high-margin cars and hybrids.
🧵 Read more at: https://www.investing.com/news/economy/toyota-to-invest-13-billion-in-kentucky-facility-for-new-ev-suv-3294235