Electric vehicles | Toyota further increases its investments
(New York) The Japanese car manufacturer Toyota announced in a press release on Thursday a strengthening of its production infrastructures in the United States, with additional investments in Indiana and Kentucky.
Thanks to a new envelope of 1.4 billion dollars, the Japanese group thus brings its total investment in Indiana to 8 billion dollars – where it has been present for almost thirty years – in order to “prepare the assembly of an all-new 7-seater electric SUV” at its Princeton factory, on an unspecified date.
“This investment will not only finance the production infrastructure for this all-new electric vehicle, but it will also add an assembly line for battery packs using lithium-ion batteries” manufactured in its North Carolina factory, said the group.
The Indiana site, which employs more than 7,500 people and is expected to accommodate up to 340 more thanks to this expansion, currently produces three Toyota models (Sienna, Highlander, Grand Highlander) and the Lexus TX.
In addition, Toyota announced an investment of $1.3 billion in the neighboring state of Kentucky to produce “another all-new 7-seater electric SUV”.
Since 2021, the Japanese group has announced its intention to invest a total of $18.6 billion in the United States, to support its transition to electric vehicles.
A pioneer in hybrids with its Prius model, Toyota has long slowed down 100% electric cars. It announced in 2021 its intention to launch fifteen all-electric models by 2025.
In late October, it announced an additional investment of $8 billion, bringing the total to nearly $14 billion, in its battery mega-factory under construction in North Carolina. It will have an area equivalent to 121 football fields.
In 2021, the Japanese giant announced that it had chosen the city of Greensboro, in this state in the southeastern United States, to set up its factory with an investment of $1.29 billion and the creation of 1,750 jobs.
He then increased his stake several times for this site – called Toyota Battery Manufacturing – North Carolina (TBMNC) – to now reach $13.9 billion and more than 5,000 jobs created. Production is due to begin in 2025.
