Toyota is committing a $1.4 billion investment towards electric vehicle production at its Princeton, Indiana plant. Auto123 has details.
Toyota will invest $1.4 billion USD in its assembly complex in Princeton, Indiana. This investment will be used to start production of a new three-row electric vehicle at the plant.
There’s no confirmation yet regarding what model will be built there, but there is speculation. And it points to it possibly being a modified version of one of the vehicles the plant already produces, rather than a new creation. The Toyota plant in Princeton, Indiana | Photo: Toyota Toyota says the $1.4 billion inflow of cash will allow for setting up the plant infrastructure to build the electric vehicle in the existing eastern part of the site, which is currently used to manufacture the Highlander SUV and Sienna minivan.
Also, the money being invested in Indiana is also meant to create a new assembly line. It will produce modules using lithium-ion batteries supplied by Toyota's $13.9 billion battery plant under construction in North Carolina. The battery plant, which will supply components to Toyota and Lexus vehicles in North America, is scheduled to begin operations in 2025.
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