Toyota teases new three-row electric SUV in investment announcement
In a recent announcement, Toyota has teased a new three-row battery electric SUV for the US market. The company's statement revealed a $1.3 billion investment in its Kentucky facility, with the money to be used for various EV projects, which include the new model and a battery pack assembly line.
While this is the first official announcement of the new eSUV from Toyota, trademarks found at the European Union Intellectual Property Office and rumors last summer had already hinted at seven-seat SUVs under the Toyota, Lexus and Subaru brands. A report by Automotive News suggested that the model could be called the bZ5X, with the naming following the pattern of the existing bZ4X. The Toyota SUV would arrive after the Subaru BEV, built on the same platform. At the time, it was thought that production of the eSUVs at the Kentucky factory would begin in 2025. No further details about the Toyota EV, which could rival the recently launched Kia EV9, have been provided.
The latest $1.3 billion investment brings the total funding for the Kentucky plant to around $10 billion and "reflects our commitment to vehicle electrification and further reinvesting in our U.S. operations," according to Toyota. A total of $17 billion has been invested in Toyota US operations since 2021, which the company notes has been "to support electrification efforts".
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