Toyota Announces $1.4 Billion BEV Investment in Indiana Facility

A new $1.4 billion investment in Toyota’s Princeton plant will add the production of a new, three row battery electric SUV. In addition, the facility will also add a new battery pack assembly line which will use li-ion batteries from Toyota Battery Manufacturing North Carolina.

Toyota Indiana assembles the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX. This investment will bring up to 340 new jobs to the plant, which already has 7,500 team members.

On Feb. 6, the company announced an investment of $1.3 billion to manufacture electric vehicles and batteries in Toyota Kentucky. The automaker has announced $18.6 billion in U.S. electrification efforts since 2021.