Japanese auto maker Toyota is planning to produce the Lexus-brand luxury sedan at its Kentucky manufacturing facility in the US.
The production is expected to commence by fall of 2015 and will add an annual production capacity of 50,000 vehicles to the plant.
The Kentucky Economic Development Finance Authority had also announced a tax incentive package of worth $146.5m to locate the production at an existing Toyota complex in Georgetown, Kentucky.
According to the preliminary approval, the tax incentives offered by Kentucky Authorities would be based for a period of over ten years for an expected investment of $531m by the manufacturer.
The company is expected to produce a part of its Lexus ES model that is currently produced at a plant in Kyushu, Japan.
The move is expected by the Kentucky Economic Development Finance Authorities to create about 570 jobs for local residents in the region.
