Toyota To Invest $1.4 Bln In Indiana Facility For New Electric SUV

(RTTNews) - Toyota said it will invest $1.4 billion in its Princeton facility in Indiana to prepare for assembly of an all-new, three row battery electric SUV in the U.S. This brings the company's total investment in Indiana to $8 billion. Additionally, it will bring the addition of up to 340 new jobs. The company noted that the investment will provide plant infrastructure to build the all-new BEV. Additionally, it will add a new battery pack assembly line. These lithium-ion batteries will be supplied by Toyota Battery Manufacturing North Carolina, a $13.9 billion facility slated to begin production in 2025.

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.

The 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.