Toyota announced a $1.33 billion dollar investment in its Georgetown, Ky. plant, where its popular Camry models are built.
Touting it as the highest current investment made by any automaker in the state, Toyota said this will be the first North American plant to use Toyota New Global Architecture. It’s part of a $10 billion investment over the next five years being made by the Japanese automaker.
There are no new factory jobs being added as part of the investment, however, it will help maintain the 8,200 jobs in place at the facility, Toyota’s largest plant in the world. The 2018 edition of the Camry will be the first U.S.-made vehicle to be built with the new vehicle development and production technology at the plant.
Its architecture system, Toyota says, will shorten development cycles for improving vehicles and adds a new strategy to designing, engineering and manufacturing its vehicles. The investment will also modernize and stremaline the production process, by updating equipment and constructing an all-new paint shop.
“This is the largest investment in our plant’s history and it speaks directly to the quality of our people and our products, as well as the partnerships we’ve forged in the local community and across the state,” said Wil James, president, Toyota Motor Manufacturing, Kentucky, Inc. (TMMK). “This major overhaul will enable the plant to stay flexible and competitive, further cementing our presence in Kentucky.”
The Kentucky plant produced more than a half-million vehicles in 2016, about 25 per cent of the total number of Toyota vehicles in North America.