Toyota Announces a $13 Billion Investment in the U.S.

Toyota will invest $13 billion in the United States over the next five years, the company announced Thursday, increasing a prior pledge of investment by 30%.

The funding will lead to greater production of hybrid versions of the RAV4 and Lexus ES, with the production of the latter beginning in May at Toyota’s Kentucky manufacturing plant.

Over the next five years, Toyota said it will increase production capacity at existing manufacturing plants in Huntsville, Alabama; Buffalo, West Virginia; Troy, Missouri; and Jackson, Tennessee, creating nearly 600 new jobs, saidToyota.

The announcement comes just over a month after Toyota and Panasonic announced a joint venture to produce electric car batteries—a move that’s expected to employ 3,500 American workers by 2020.