Toyota to invest $1.4 billion in its Indiana plant, adding 340 new jobs

FILE PHOTO: A sigh of Toyota is pictured at its booth during the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China, April 25, 2024. REUTERS/Tingshu Wang/File PhotoToyota Motor Corp said on Thursday it would invest $1.4 billion in its Princeton facility in Indiana to prepare for assembly of a three-row battery electric SUV.

The latest investment comes after the company had said in February it would invest $1.3 billion at its Kentucky facility for electrification efforts, including assembly of a new, three-row battery electric SUV for the U.S. market. Apart from building new vehicles, the plant is supposed to add a new battery pack assembly line using lithium-ion batteries, supplied by the carmaker's battery manufacturing plant in North Carolina.

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