Toyota on Tuesday introduced a further $1.Three billion funding in its Georgetown, Kentucky, meeting plant to organize for manufacturing of a 3-row electrical SUV.

This extra cash, which brings the plant’s whole funding to almost $10 billion, “helps the beforehand introduced future BEV meeting at Toyota Kentucky,” in line with an organization press launch. It additionally provides a battery pack meeting line to the ability, with batteries to be provided from a Toyota facility at the moment below development in North Carolina.

Toyota Land Cruiser Se idea

Toyota introduced final Could that it plans to assemble the 3-row SUV on the Kentucky plant, which at the moment builds Camry sedans and RAV4 crossovers, beginning in 2025. To assist that, Toyota has entered a “long-term” battery provide settlement with LG. And final October Toyota confirmed a Land Cruiser Se idea that will preview the upcoming mannequin.

A U.S.-assembled EV additionally serves Toyota’s “dedication to constructing the place we promote,” the discharge mentioned. Toyota’s solely present battery-electric fashions for the U.S. embrace the bZ4X and the associated Lexus RZ—neither of which is assembled domestically.

Toyota Motor Manufacturing Kentucky

That mentioned, it is a complicated focus of funds, as Toyota has continued to argue that it will possibly make a much bigger distinction in total emissions by emphasizing hybrids. Whereas the automaker has mentioned that quite a few all-electric fashions are on the way in which, it has resisted going all-in on EVs.

Toyota president Akio Toyoda just lately mentioned that EVs will not prime 30% market share, and that he needed a brand new line of combustion engines. Nonetheless, Toyota’s beforehand mentioned EV manufacturing targets run counter to that. The automaker has mentioned it goals to promote 1.5 million EVs globally by 2026 and three.5 million by 2030. At Toyota’s present manufacturing volumes, that may work out to 40% EVs by 2030.