PRINCETON, Ind. (April 25, 2024) – Toyota will put together for meeting of an all-new, three row battery electrical SUV within the U.S. as a part of a brand new $1.4 billion funding in its Princeton facility, affirming Toyota’s dedication to reinvesting earnings in its U.S. operations and bringing complete funding in Toyota Indiana to $8 billion. This additionally brings the addition of as much as 340 new, high-quality jobs with long-term stability.

This funding is not going to solely present plant infrastructure to construct the all-new BEV, it’s going to add a brand new battery pack meeting line utilizing lithium-ion batteries provided by Toyota Battery Manufacturing North Carolina, a $13.9 billion facility slated to start manufacturing in 2025.

“Our team members are the heart of Toyota,” mentioned Tim Hollander, president of Toyota Indiana. “We take great pride in producing quality products while providing long-term, stable employment no matter the changes in our industry. Our team is committed to delivering this new product with the same quality and performance that Toyota customers expect.”

Toyota’s Indiana facility is residence to greater than 7,500 crew members who assemble the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX.

“I feel fortunate for the years I’ve been with Toyota and am proud of the products we assemble,” mentioned Michael Baehl, a 26-year Toyota Indiana crew member. “The company’s commitment to long-term job stability and high-quality work provides me with peace of mind. Additionally, the opportunities to enhance my skills and progress in my career have allowed me to achieve goals I never imagined.”

Since 2021, Toyota has introduced new investments totaling $18.6 billion into its U.S. manufacturing operations to assist electrification efforts. Increasing BEV manufacturing within the U.S. advances Toyota’s portfolio method to electrification.

“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,” mentioned Governor Eric J. Holcomb. “Toyota’s investment in the state began with an $800 million commitment and has grown to over $8 billion. Today’s incredible announcement shows yet again just how important our state’s business friendly environment, focus on long-term success and access to a skilled workforce is to companies seeking to expand and be profitable far into the future. Indiana proudly looks forward to continuing to being at the center of the future of mobility.”

This announcement comes on the heels of a $1.3 billion funding in Toyota Kentucky for the manufacturing of a separate all-new, three row battery electrical SUV.

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