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Toyota to Invest $1.4 Billion in Indiana Plant

Toyota to Invest $1.4 Billion in Indiana Plant

Specifications:

Name:

Toyota to Invest $1.4 Billion in Indiana Plant

Location:

Indiana

Company:

Toyota

Estimated Cost:

$1.4 Billion

Source:

https://pressroom.toyota.com/

Introduction:

Toyota is set to commence the assembly of a brand-new, three-row battery electric SUV in the U.S., backed by a substantial $1.4 billion investment in its Princeton, Indiana facility.

Features:

This significant investment will not only enhance the plant's infrastructure to support the production of the new battery electric vehicle (BEV), but will also establish a new assembly line for battery packs. These battery packs will use lithium-ion cells supplied by Toyota Battery Manufacturing North Carolina, a $13.9 billion facility scheduled to start operations in 2025.

Moreover, this initiative will create up to 340 new, high-quality jobs offering long-term stability. This announcement follows closely on the heels of a $1.3 billion investment in Toyota's Kentucky plant for the production of a different, all-new three-row battery electric SUV.

Toyota’s Indiana facility, which currently employs over 7,500 team members, is responsible for assembling the Toyota Sienna, Highlander, Grand Highlander, and the Lexus TX.