Toyota announces $238 million investment in Georgetown plant; increased production

Toyota Georgetown plant to produce two hybrid vehicles in new multimillion-dollar investment | Lexington Herald Leader

Toyota Georgetown plant to produce two hybrid vehicles in new multimillion-dollar investment | Lexington Herald Leader

The motor plant, located in North Huntsville Industrial Park and separate from the under-construction Mazda Toyota Manufacturing USA facility, is making its largest hiring increase in the history of the plant that broke ground in 2001.

"Today's exciting announcement shows Toyota's recognition and continued trust in the high-level skills and expertise of our fantastic team here in Kentucky", said Susan Elkington, president of Toyota's Kentucky facility. "The production changes announced today are centered upon our commitment to meet changing customer desires by diversifying the types of products our team members build here in Georgetown". We are immensely proud that the Bluegrass State is home to Toyota's largest manufacturing operation, and we enthusiastically support this substantial investment to address the rising demand for hybrid vehicles. The Rav4 hybrid will be made starting in January 2020 with an annual capacity of 100,000 vehicles, Toyota said. "I'm excited to see how this new venture will continue to benefit our local communities and know West Virginia workers will be eager to fill the 123 new jobs coming to TMMWV". Mitch McConnell, R-Kentucky, said in prepared remarks.

The company plans to begin increasing production in May, starting with the Lexus ES Hybrid.

Employees are building 2,600 engines a day.

Thursday's announcement comes just days after Toyota announced a partnership with developers to create a 700 acre solar panel farm in Pike County.

The company got millions in state tax incentives when it upgraded the plant for the new process.

Toyota said it will exceed a 2017 pledge to invest $10 billion over five years with a new commitment to reach almost $13 billion over the same period, including Thursday's announcement. "Doubling our production of hybrid transaxles in West Virginia solidifies our facility's role in producing next generation engines and transmissions that will drive the future of Toyota's advanced mobility technology".

The investment will introduce two new engine assembly lines: a new 4 cylinder and a V6 engine.

$62 million on equipment to boost production of Toyota and Lexus cylinder heads at Toyota's Bodine Aluminum facility in Troy, Mo.

Toyota President Akio Toyoda will be in Washington Friday to deliver a speech in which he is expected to tout the new investments. It also plans to ramp up its US-based engine production, presumably to help with that whole "more hybrids" thing.

"These latest investments represent even more examples of our long-term commitment to build where we sell", Jim Lentz, chief executive officer for Toyota Motor North America said Thursday in a written statement.