$1.4 billion
investment in Indiana plant brings
production of an all-new BEV
Toyota adds up to 340 new,
sustainable U.S. jobs
PRINCETON, Ind., April 25,
2024 /PRNewswire/ -- Toyota will prepare for
assembly of an all-new, three row battery electric SUV in the U.S.
as part of a new $1.4 billion
investment in its Princeton
facility, affirming Toyota's commitment to reinvesting profits in
its U.S. operations and bringing total investment in Toyota Indiana
to $8 billion. This also brings the
addition of up to 340 new, high-quality jobs with long-term
stability.
This investment will not only provide plant infrastructure to
build the all-new BEV, 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.
"Our team members are the heart of Toyota," said 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
home to more than 7,500 team 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," said Michael Baehl, a 26-year Toyota Indiana team
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 announced new investments totaling
$18.6 billion into its U.S.
manufacturing operations to support electrification efforts.
Increasing BEV production in the U.S. advances Toyota's portfolio
approach 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," said 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 investment in Toyota Kentucky for
the production of a separate all-new, three row battery electric
SUV.
About Toyota
Toyota (NYSE: TM) has been a part of the cultural fabric in
North America for more than 65
years, and is committed to advancing sustainable, next-generation
mobility through our Toyota and Lexus brands, plus our more than
1,800 dealerships.
Toyota directly employs more than 63,000 people in North America who have contributed to the
design, engineering, and assembly of nearly 47 million cars and
trucks at our 13 manufacturing plants. By 2025, Toyota's
14th plant in North
Carolina will begin to manufacture automotive batteries for
electrified vehicles. With more electrified vehicles on the road
than any other automaker, Toyota currently offers 27 electrified
options.
For more information about Toyota, visit
www.ToyotaNewsroom.com.
Media Contact:
Stacy
Carr
812-215-6381
Stacy.carr@toyota.com
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SOURCE Toyota Motor North America