The first vehicle that will incorporate the new technology will be the 2018 Camry. Toyota is also expanding production of the Tacoma pickup at its only current Mexican factory, which is in Tijuana. In addition, it will shorten the development cycle for vehicle improvements and new vehicles.
The $1.3 billion investment will upgrade the plant to make it more efficient and flexible.
Toyota on Monday announced a $1.33 billion investment in Kentucky as part of the company's plan to invest $10 billion in the US over the next five years.
While Toyota officials don't expect the investment to add jobs at what is already the company's largest facility worldwide, it is created to enhance technology, efficiency and productivity in a new age of vehicle building, officials said.
Toyota says the Kentucky investment is part of plans to invest $10 billion in the US over the next five years.
TM stock was up slightly as of Monday afternoon. The company also has said that its Mexican plant investments will continue on schedule. It manufactures the Toyota Camry model, and Lexus models. Gill said. "Its ripple effects will add to Toyota's three decades of transformative impact on our communities and for our residents across the Commonwealth".
Toyota cited a recent study by the Center for Automotive Research that the company commissioned, which found that the automaker directly or indirectly supports the employment of nearly 30,000 jobs in Kentucky.
The plant is already home to such a shift in manufacturing needs, with Toyota previously hiring 700 new employees to help with the launch of the redesigned Camry. "This project further distinguishes Kentucky as we work toward widespread recognition as an engineering and manufacturing hub of excellence in North America". TMMK employees live in 80 Kentucky counties, and now Toyota has more than 100 suppliers located across the Commonwealth.
Manufacturing operations at the Georgetown plant include plastics injection molding. (TMMK) in Georgetown. TMMK is the largest manufacturing facility outside of Japan, producing over 450,000 vehicles in 2015. "We've got 8,200 people working here and we build over half a million vehicles". Although it's still the best selling auto in the USA, the Camry's market share has fallen as consumers have started to shift from buying sedans to crossover sport utility vehicles.
Toyota partners with community, civic, academic, and governmental organizations to address our society's most pressing mobility challenges. For more information about Toyota, visit www.toyotanewsroom.com.