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Toyota invests $1 billion in large electric crossover, but production start delayed

Although production of the electric crossover was originally planned for 2025, Toyota has postponed the start of production of the new product to the first half of 2026

Dec 19, 2024 11:24 89

Toyota invests $1 billion in large electric crossover, but production start delayed  - 1

Toyota is preparing to produce its first three-row electric crossover in the United States. The Japanese automaker is reportedly investing another $922 million in building a new paint shop at its plant in Georgetown, Kentucky. The automaker also announced an investment of $1.3 billion in February.

Although production of the electric crossover was originally planned for 2025, Toyota has postponed the start of production of the new product to the first half of 2026. The delay comes after Toyota recently told suppliers it was slowing down all production of new electric vehicles.

As the world’s largest manufacturing facility, Toyota’s Kentucky plant will be key if Toyota is to keep up with the electric transition. The new paint shop is set to open in 2027. Toyota also says its new paint shop will increase floor space while reducing carbon emissions by 30 percent, as well as reducing water consumption by four million liters per year.