Toyota Motor is investing $1.3 billion in a Kentucky plant to produce a new all-electric, three-row SUV for the U.S. market, the company said Tuesday.
The vehicle is expected to go into production between late 2025 and early 2026, according to a company spokeswoman. It is part of previously announced plans by the Japanese automaker to invest $35 billion in battery-electric vehicles, or BEVs, through 2030.
A company spokesperson declined to provide additional details for the upcoming vehicle, which will likely compete with current vehicles such as the Rivian R1S and Kia EV9.
The announcement comes as consumer adoption for EVs has been slower than many expected, causing some automakers to delay or cut investment plans for all-electric vehicles.
Toyota, the world’s largest automaker, is among the most prominent automakers to say that while EVs are a solution to reach carbon neutrality, they’re not the only one. The automaker continues to invest in hybrids, plug-in hybrid vehicles and other technologies such as hydrogen fuel cells.
Don’t miss these stories from CNBC PRO:
- Forget ‘FANG’ and ‘Magnificent 7,’ the new hot portfolio is ‘MnM,’ says Raymond James
- Walmart just split its stock. History shows what will happen next with the megacap
- Alibaba, ASML and more: Jefferies reveals its ‘highest-conviction’ stocks to buy — and one has 118% upside
- Tesla is one of the most oversold stocks in the S&P 500 and could be due for a bounce
cost ivermectin – stromectol for sale online buy generic tegretol
cost isotretinoin – purchase accutane generic linezolid 600mg cheap
prednisolone 20mg canada – cheap generic omnacortil generic prometrium
purchase augmentin – cymbalta 40mg usa duloxetine medication
semaglutide 14 mg usa – cyproheptadine 4mg over the counter cyproheptadine 4 mg brand
tadalafil 10mg usa – order tadalafil 10mg sale pfizer viagra 50mg
omeprazole online – buy metoprolol 50mg pill oral atenolol 100mg
medrol over counter – order lyrica 75mg pill where can i buy aristocort
order desloratadine generic – desloratadine 5mg tablet order priligy 90mg online cheap
buy cytotec paypal – brand diltiazem diltiazem 180mg us
acyclovir 400mg price – buy allopurinol 100mg sale order rosuvastatin 20mg online cheap
buy domperidone 10mg for sale – sumycin 250mg over the counter purchase cyclobenzaprine pills
oral propranolol – inderal pill purchase methotrexate pill
buy coumadin 5mg for sale – warfarin cheap losartan 25mg us
levaquin cost – levaquin 250mg usa ranitidine 300mg ca
esomeprazole 20mg uk – order sumatriptan 50mg pill purchase imitrex generic