LOUISVILLE, Ky. (WDRB) -- Toyota has announced it will invest almost $374 million at five U.S. facilities, including one located in Georgetown, Kentucky.
According to a news release issued Tuesday, the company will invest a total of $373.8 million at the five plants.
Company officials say the Georgetown facility will receive a total of $120,960,000.
The plants will produce the company's first American-made hybrid powertrain.
Work is slated to start this year. Part of the funds will be used to expand 2.5-liter engine capacity at the Georgetown facility.
"This investment is part of our long-term commitment to build more vehicles and components in the markets in which we sell them," said Jim Lentz, CEO of Toyota Motor North America, in a statement. "This strategy is designed to better serve our customers and dealers, and positions our manufacturing operations to fulfill their needs well into the future."
The 2.5-liter engines made in Kentucky will be used in hybrid vehicles built in North America, including the Highlander Hybrid built in Princeton, Indiana.
Toyota says the funds will not result in the creation of new jobs at the Georgetown, Kentucky plant.
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