Toyota will prepare for the assembly of an all-new, three-row battery electric SUV in the U.S. as part of a new $1.4 billion investment in its Princeton, IN facility, bringing the total investment in Toyota Indiana to $8 billion. This also brings the addition of up to 340 new jobs in the area, Toyota said.
According to the manufacturer, this investment will not only provide plant infrastructure to build the all-new BEV, it will 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 said its Indiana facility is home to more than 7,500 team members who assemble the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX.
Since 2021, Toyota has announced new investments totaling $18.6 billion into its U.S. manufacturing operations to support electrification efforts. The company said increasing BEV production in the U.S. advances its portfolio approach to electrification.
“Indiana and Toyota share a nearly 30-year partnership that has cultivated job stability and economic opportunity in Princeton and the surrounding southwest Indiana region for decades,” Indiana Governor Eric J. Holcomb said. “Toyota’s investment in the state began with an $800 million commitment and has grown to over $8 billion. Today’s announcement shows yet again just how important our state’s business-friendly environment, focus on long-term success and access to a skilled workforce is to companies seeking to expand and be profitable far into the future.”
This announcement comes on the heels of a $1.3 billion investment in Toyota Kentucky for the production of a separate all-new, three-row battery-electric SUV.
