Toyota this week introduced a $1.Three billion funding in its plant in Kentucky to help manufacturing of electrified autos, together with a brand new three-row SUV powered solely by batteries.
The funding can even lead to a brand new manufacturing facility on the plant for battery packs that can use lithium-ion batteries equipped by a Toyota battery plant in North Carolina.
Timing for the SUV wasn’t talked about however Toyota final yr mentioned it deliberate to begin manufacturing of an electrical three-row SUV within the U.S. in 2025. That is the identical date that Toyota’s battery plant in North Carolina is scheduled to return on-line.
An electrical three-row SUV was among the many ideas Toyota introduced in late 2021, when the automaker introduced plans to launch 30 electrical autos throughout the Toyota and Lexus manufacturers by 2030. Toyota additionally confirmed an electrical Land Cruiser idea final yr.
Toyota Land Cruiser Se idea
Lexus can also be planning to launch an electrical three-row SUV that will presumably be constructed alongside the Toyota on the Kentucky plant. Lexus already builds its ES on the website.
A Lexus electrical three-row SUV was additionally among the many ideas Toyota introduced in 2021. The car could also be known as a TZ, judging by latest trademark exercise. Such a reputation would point out the SUV is an electrical different to Lexus’ gas-powered TX SUV launched for the 2024 mannequin yr. The TX is a midsize SUV with third-row seats.
With this week’s funding announcement, Toyota’s funding commitments for electrification throughout North America has grown to $17 billion since 2021.