Toyota is set to bolster its presence in the electric vehicle (EV) market with a substantial $1.4 billion investment in its Princeton facility in the United States. This investment reaffirms Toyota’s commitment to its U.S. operations and marks a significant milestone in its electrification strategy.
The investment will facilitate the assembly of an all-new, three-row battery electric SUV, signaling Toyota’s dedication to innovation and sustainability. Moreover, it will create up to 340 new, high-quality jobs, providing long-term stability for the workforce.
One of the key components of this investment is the establishment of a new battery pack assembly line, utilizing lithium-ion batteries supplied by Toyota Battery Manufacturing North Carolina. This move underscores Toyota’s holistic approach to electrification and ensures the seamless integration of cutting-edge technology into its vehicles.
Tim Hollander, president of Toyota Indiana, emphasized the pivotal role of the workforce in Toyota’s operations, highlighting the company’s commitment to delivering quality products while providing stable employment opportunities.
Toyota’s Indiana facility, which currently boasts more than 7,500 team members, is responsible for assembling a range of vehicles, including the Toyota Sienna, Highlander, Grand Highlander, and the Lexus TX. The addition of the all-new battery electric SUV further solidifies the facility’s position as a cornerstone of Toyota’s manufacturing operations in the U.S.
Michael Baehl, a long-time team member at Toyota Indiana, expressed gratitude for the company’s commitment to job stability and quality work, citing the opportunities for skill enhancement and career progression.
Since 2021, Toyota has been aggressively investing in its U.S. manufacturing operations to support its electrification efforts, with total investments amounting to $18.6 billion. This strategic move underscores Toyota’s commitment to advancing its electrified vehicle portfolio and meeting the evolving needs of consumers.
Governor Eric J. Holcomb praised Toyota’s longstanding partnership with Indiana, highlighting the significant economic impact and job opportunities generated by the company’s investments in the state.
This announcement follows Toyota’s recent $1.3 billion investment in its Kentucky facility for the production of another all-new, three-row battery electric SUV, further cementing the company’s position as a leader in the transition to electric mobility.
Toyota’s substantial investment in U.S. manufacturing underscores its dedication to innovation, sustainability, and economic growth, positioning the company for continued success in the rapidly evolving automotive landscape.
