Toyota continues its battery-electric car transition with the announcement of a $1.4 billion funding within the firm’s Princeton, Indiana plant that already builds the Toyota Sienna, Highlander, Grand Highlander, and Lexus TX.
Including this new EV will deliver a further 340 jobs to the 7,500 employees already on the plant. This brings Toyota’s whole funding within the plant to $8 billion, in keeping with the corporate. It’s a part of $18.6 billion invested in U.S. electrical manufacturing introduced since 2021.
This announcement covers not solely the infrastructure to construct the all-new EV on the Princeton plant, it additionally provides a brand new battery pack meeting line utilizing the lithium-ion batteries from Toyota’s $13.9 billion Toyota Battery Manufacturing North Carolina facility that’s scheduled to start manufacturing subsequent yr.
This shouldn’t be confused with Toyota’s lately introduced $1.3 billion funding in Toyota Kentucky for the manufacturing of a separate all-new, three-row battery-electric SUV there.
“Our crew members are the center of Toyota,” mentioned Tim Hollander, president of Toyota Indiana. “We take nice delight in producing high quality merchandise whereas offering long-term, steady employment regardless of the modifications in our business. Our crew is dedicated to delivering this new product with the identical high quality and efficiency that Toyota clients anticipate.”
