Toyota Pumps $1.3B into Georgetown Plant for Electric SUV Boom

GEORGETOWN, Ky. — Toyota announced a $1.3 billion expansion at its Toyota Motor Manufacturing Kentucky plant here on Feb. 6, 2024, targeting assembly of an all-new three-row battery electric SUV for the U.S. market — the company's first U.S.-built BEV.[1][3][4] The investment, more than double the $2.8 billion project first greenlit in May 2023 by the Kentucky Economic Development Finance Authority, brings cumulative spending at the 1986-opened facility to nearly $10 billion and adds a battery pack assembly line sourced from Toyota Battery Manufacturing North Carolina, set to start production in 2025.[3][4] Current Camry output continues as retooling begins, with SUV assembly slated for next year.[3] The Georgetown complex, Toyota's largest worldwide employing nearly 9,400 Kentuckians, will maintain its workforce without adding jobs under this phase, prioritizing long-term stability over expansion hiring.[1][2][3] State incentives up to $240 million hinge on hitting $2.8 billion total investment by March 31, 2026, while keeping at least 8,055 jobs — with penalties if full-time Kentucky residents dip below 7,750.[3] Central Kentucky leaders hailed the move as a boon for the region's auto heritage, where Toyota has anchored economic growth since employing thousands in Scott County. This electrification push aligns with Toyota's broader U.S. strategy, including an $800 million slice of the Georgetown outlay for dual BEV preparations, amid rising demand for electric three-row family haulers.[4][5] Batteries will flow from the $13.9 billion North Carolina gigafactory, linking Kentucky's assembly prowess to a national supply chain.[3] For Georgetown residents and Scott County, the news reinforces the plant's status as a jobs cornerstone, even as EV shifts test traditional manufacturing models.[1][2]