PRINCETON, IN (April 25, 2024) – Toyota is significantly boosting its commitment to electric vehicle manufacturing in the United States with a massive $1.4 billion investment in its Princeton, Indiana, facility. This strategic move will pave the way for the assembly of an all-new, three-row battery electric SUV, underscoring Toyota’s dedication to reinvesting profits within its U.S. operations. This latest injection of capital elevates Toyota’s total investment in Toyota Indiana to an impressive $8 billion and is projected to create up to 340 new, sustainable jobs in the region.
This substantial investment is not solely focused on vehicle assembly infrastructure. A key component includes the establishment of a brand-new battery pack assembly line within the Princeton plant. This line will be dedicated to producing lithium-ion batteries, sourced from Toyota Battery Manufacturing North Carolina, a state-of-the-art $13.9 billion facility scheduled to commence operations in 2025. This integrated approach highlights Toyota Us’s comprehensive strategy to control and enhance its electric vehicle supply chain within North America.
“Our team members are the bedrock of Toyota,” stated Tim Hollander, president of Toyota Indiana. “We are incredibly proud of our legacy of producing high-quality vehicles and providing stable, long-term employment, even amidst industry transformations. Our entire team is energized and ready to bring this new electric SUV to market with the hallmark quality and performance that Toyota customers expect from Toyota US.”
The Toyota Indiana plant currently serves as a vital manufacturing hub for Toyota US, employing over 7,500 team members who are responsible for assembling popular models such as the Toyota Sienna, Highlander, Grand Highlander, and Lexus TX. This new investment not only secures the plant’s future but also positions it at the forefront of Toyota’s electric vehicle revolution within the United States.
“Having been a part of the Toyota family for 26 years, I am excited about the future and the vehicles we produce,” said Michael Baehl, a long-tenured Toyota Indiana team member. “Toyota’s dedication to job security and superior manufacturing standards gives me confidence in my future. Furthermore, the continuous opportunities for professional development and career advancement have allowed me to achieve aspirations I once thought were out of reach within Toyota US.”
Since 2021, Toyota’s commitment to electrification in the US has been powerfully demonstrated through new investments totaling $18.6 billion in its U.S. manufacturing footprint. Increasing battery electric vehicle production within the United States is central to Toyota’s multi-faceted approach to vehicle electrification, ensuring a diverse range of options for consumers and solidifying Toyota US’s leadership in the evolving automotive landscape.
“Indiana and Toyota share a remarkable partnership spanning nearly three decades, fostering job stability and driving economic growth in Princeton and southwest Indiana for generations,” commented Governor Eric J. Holcomb. “Toyota’s initial $800 million investment in our state has now grown tenfold to over $8 billion. This momentous announcement reaffirms the critical importance of Indiana’s business-friendly environment, our focus on long-term success, and our access to a highly skilled workforce for companies looking to expand and thrive well into the future. Indiana is proud to be at the heart of the future of mobility, in partnership with Toyota US.”
This announcement follows Toyota’s recent $1.3 billion investment in Toyota Kentucky, which will also support the production of another all-new, three-row battery electric SUV, further showcasing Toyota’s aggressive strategy and investment in electric vehicle production across its Toyota US manufacturing network.
