Toyota Boosts U.S. Capacity Grit With New Funding

Toyota will prepare for assembly of an all-new, three-row battery electric SUV in the United States. Accordingly, this plan is part of a new US$1.4 billion investment in its Princeton facility in Indiana.

The move affirms Toyota’s commitment to reinvesting profits in its U.S. operations. Thus, bringing total investment in Toyota Indiana to US$8 billion. This also brings the addition of up to 340 new, high-quality jobs with long-term stability.

Synergies of Various Facilities

This investment will not only provide Toyota with the plant infrastructure to build the all-new BEV. Most importantly, it will add a new battery pack assembly line using lithium-ion batteries. Specifically, Toyota Battery Manufacturing North Carolina, the US$13.9 billion facility that will commence operations in 2025, will supply these lithium-ion batteries.

“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.”

In addition, Hollander guarantees the team’s commitment to deliver this new product with the same quality and performance expected from Toyota.

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.”

Growing Investments

Since 2021, Toyota has announced new investments totaling US$18.6 billion into its U.S. manufacturing operations to support electrification efforts. Moreover, it is increasing BEV production in the United States to advance 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. Furthermore, Holcomb said, “Toyota’s investment in the state began with a US$800 million commitment and has grown to over US$8 billion. (This) incredible announcement shows yet again just how important our state’s business-friendly environment.”

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.

3 May 2024