TOYOTA ANNOUNCES US$1.33B INVESTMENT IN KENTUCKY PLANT

Toyota Corp. said Monday it is investing US$ 1.33 billion to retool its sprawling factory in Georgetown, Ky., where the company’s flagship Camry sedans are built. No new factory jobs are being added, but Toyota says the upgrades amount to the biggest single investment ever at one of its existing plants in the United States. The retooling also will sustain the existing 8,200 jobs at Toyota’s largest plant, where about one-fourth of all Toyota vehicles produced in North America are made, the automaker said. The Toyota investment has been in the works for years as it gears up for production of the revamped 2018 Camry, long the top-selling car in the U.S. President Donald Trump, in a paragraph added to Toyota’s news release at the White House’s request on Sunday night, praised the investment.