This financing will be used in the assembly of a new electric SUV , a three-row, family-friendly and versatile model. Toyota details a significant capital injection of $1.4 billion into its plant located in Princeton, Indiana, United States.
A new electric SUV from Toyota
In recent statements from the Japanese company, the new investment includes the incorporation of a production line dedicated to lithium-ion batteries , which will be supplied by its production plant in North Carolina. This new facility is valued at 13.9 billion dollars, whose operation is scheduled to begin in 2025.
In addition, the company has indicated that this project will generate up to 340 new jobs and offer long-term job stability. Currently, the Indiana factory employs more than 7,500 people who are responsible for assembling models such as the Sienna, Highlander, Grand Highlander and the Lexus TX. This information demonstrates Toyota’s continued commitment to local economic development.
Since 2021, the company has allocated a total of $18.6 billion to expand and improve its manufacturing operations in the United States. This effort allows it to strengthen the production capabilities of its electric vehicles and offer new experiences to its customers, such as the development of new associated technologies for the country.
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Source and photo: Toyota USA
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