Toyota to invest $1.4B in its Princeton facility, brings production of new BEV

Toyota will prepare for assembly of an all-new, three row battery electric SUV in the U.S. as part of a new $1.4B 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 battery electric vehicle, BEV, it will add a new battery pack assembly line using lithium-ion batteries supplied by Toyota Battery Manufacturing North Carolina, a $13.9B 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.