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Production of the Toyota Camry at the automaker’s plant in Georgetown, Kentucky.

Courtesy Toyota

Toyota Motoron Monday announced it would spend $1 billion at two U.S. plants as part of a plan to invest up to $10 billion domestically over the next five years.

The new investments include $800 million at a plant in Georgetown, Kentucky, to increase production capacity of the automaker’s Camry sedan and RAV4 crossover. The remaining $200 million is to increase capacity for the Toyota Grand Highlander SUV at a plant in Princeton, Indiana.

“Toyota’s investment in the U.S. is for the long-term, tied to our philosophy of building where we sell and buying where we build,” Toyota Motor North America Chief Operating Officer Mark Templin said in a statement.

Toyota in November confirmed plans to invest up to $10 billion in its U.S. plants through 2030. That came roughly a month after President Donald Trump said during a speech that such an investment would come from the Japanese automaker.

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Toyota and the entire automotive industry have been attempting to navigate production plans amid tariffs and other regulatory changes.

Changing trade deals and tariffs have been a major issue for automakers during the Trump administration, costing many companies billions of dollars annually in additional costs. Toyota previously warned U.S. tariffs are expected to cost the automaker 1.4 trillion yen for its fiscal year, which closes at the end of this month.

Toyota Chair Akio Toyoda, whose company employs nearly 48,000 people in the U.S., has been trying to win over Trump, including by donning a red “Make America Great Again” hat and a T-shirt with Trump and Vice President JD Vance during a November event in Japan featuring U.S. officials.

Toyota also was the first of the Japanese automakers to commit to a plan to export U.S.-produced vehicles to Japan following changes to the country’s vehicle import rules that were reached through a trade deal last year with the Trump administration.

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Source: https://www.cnbc.com/2026/03/23/toyota-investment-united-states.html

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