Toyota Announces $1.4 Billion Investment in US Plant to Produce All-new BEV

Toyota has announced a new $1.4 billion investment in its Princeton facility.in the US to prepare for the assembly of an all-new, three row battery electric SUV. This brings the total investment in Toyota Indiana to $8 billion.

This investment will provide plant infrastructure to build the all-new battery electric vehiicle (BEV),

It will also add a new battery pack assembly line using lithium-ion batteries supplied by Toyota Battery Manufacturing North Carolina, a $13.9 billion facility slated to begin production in 2025.

Toyota’s Indiana facility is home to more than 7,500 team members who assemble the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX.

340 new jobs will be created as a results of the new investment.

Tim Hollander, president of Toyota Indiana, says: “Our team members are the heart of Toyota, We take great pride in producing quality products while providing long-term, stable employment no matter the changes in our industry. Our team is committed to delivering this new product with the same quality and performance that Toyota customers expect.”

Michael Baehl, a 26-year Toyota Indiana team member, adds: “The company’s commitment to long-term job stability and high-quality work provides me with peace of mind. Additionally, the opportunities to enhance my skills and progress in my career have allowed me to achieve goals I never imagined.”

Toyota has already announced a $1.3 billion investment in Toyota Kentucky for the production of a separate all-new, three row battery electric SUV.