Toyota invests $803 million in Indiana production plant
April 30, 2021
Toyota Motor Corporation has announced an $803 million investment and 1,400 new jobs for its Princeton, Indiana, USA, auto manufacturing plant. These moves are in preparation to introduce two all-new, three-row SUVs – one under the Toyota name and the other under Lexus, the first produced in the company’s Indiana location. While further details of these new vehicles will be announced at a later date, both will join the electrified product portfolio and will help the company get another step closer to the global aim of carbon neutrality by 2050.
Toyota Indiana’s environmental team has created thousands of metric tons in CO2 savings for the plant and invested over $4 million on CO2 reduction projects, with another $2.7 million committed for the coming year.
“Over the past 20 years, Toyota has led the way with more electrified vehicles on the road than all automakers combined,” stated Ted Ogawa, president and CEO of Toyota Motor North America. “This investment and new vehicle line-up will allow us to continue our work with electrification, expand our portfolio to around 70 models globally by 2025, and meet the needs of our customers while we accelerate towards carbon neutrality.”
The $803 million investment will be used to prepare the manufacturing line for the new vehicles, production-employee training, as well as provide supplier re-tooling at their facilities. Since the first Tundra rolled off the production line in 1998, Toyota’s total investment in the Princeton site is $6.6 billion. Toyota Indiana currently assembles the all-hybrid Sienna minivan, Highlander/Highlander Hybrid SUV and Sequoia full-size SUV, and has the capacity to assemble more than 420,000 vehicles annually.
