Toyota launches $1.4 B Kentucky EV SUV plant and backs $34 M Namibia rare‑earth venture

Toyota Motor Corporation announced a $1.4 billion investment to retool its Georgetown, Kentucky facility for production of a new three‑row electric SUV. The upgrade will add about 200 jobs and is slated to begin output in 2025‑2026, marking a major push into the U.S. EV market.

Separately, state‑owned Namibian miner Jogmec committed up to C$47.7 million (≈$34 million) to a joint venture with Toyota Tsusho to develop a heavy‑rare‑earth project at the Lofdal deposit in Namibia’s Kunene region. The project aims to secure supplies of dysprosium and terbium for permanent‑magnet applications, with a feasibility study underway and a commercial decision expected by fiscal year ending March 2027.