Apr 26, 2024 (MarketLine via COMTEX) --
Brings total investment to Toyota's Indiana plant to $8bn
Toyota is moving ahead to prepare for assembly of an all-new, three row battery electric SUV in the US.
It is part of a new $1.4 billion investment in its Toyota Indiana facility, which will see 340 new jobs created. It brings its total investment there to $8 billion. A
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.
Tim Hollander, president of Toyota Indiana said: aEURoeOur team is committed to delivering this new product with the same quality and performance that Toyota customers expect."
Toyota's Indiana facility is home to over 7,500 team members who assemble the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX.
Since 2021, Toyota has announced new investments totalling $18.6 billion into its US manufacturing operations to support electrification efforts. Increasing BEV production in the U.S. advances Toyota's portfolio approach to electrification.
Governor Eric J. Holcomb said: "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.aEUR
The investment into Toyota Indiana is the second such announcement this year. It comes after a $1.3 billion investment in Toyota Kentucky for the production of a separate all-new, three row battery electric SUV.
http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall
not be liable for errors or delays in the content, or for any actions
taken in reliance thereon
COMTEX_451457708/2227/2024-04-26T09:30:13
Copyright (C) 2024 Datamonitor. All rights reserved
