Toyota Motor North America Inc, the US-based subsidiary of Japanese automaker Toyota Motor Corporation, announced that it plans to invest US 1 billion in its Kentucky and Indiana plants, to introduce new products that better meet the diverse needs of the company’s US customers. Toyota confirmed that the investment is part of the up to US$ 10 billion five-year investment plan announced last November, as part of the company’s strategy of “investing and producing locally, contributing to the local community, ...

Toyota said Monday it was committing $1 billion to a pair of U.S. factories, with the bulk directed to its Georgetown, Kentucky plant — the automaker's largest vehicle manufacturing facility in the world. The announcement allocates $800 million to the Kentucky plant and $200 million to a facility in Princeton, Indiana. The Kentucky funds are earmarked to prepare the plant for a second battery electric vehicle and to expand production capacity for the Camry sedan and RAV4 crossover. The Indiana allocation ...