Summary
– Toyota plans to build a new three-row battery-electric SUV in Princeton, Indiana with a $1.4 billion investment
– This is in addition to an investment in a similar SUV in the Kentucky plant
– Toyota may have two different three-row electric SUVs
– Toyota plans to introduce 10 new EVs by 2026 in the US and China
– The Indiana plant will add 340 new jobs and Toyota will add a new battery pack assembly to its facility in North Carolina
Article
Toyota announced a $1.4 billion investment in its plant in Princeton, Indiana, to build a new three-row battery-electric SUV. This investment comes in addition to a recent $1.3 billion investment in the company’s Kentucky plant to produce a separate three-row battery-electric SUV. The company will be producing two different three-row electric SUVs, including one that has been rumored to be a fully electric Toyota Highlander EV with a potential Lexus TZ sibling. Reports suggest that the Kentucky plant’s EV due for production in 2025 might be a Toyota bZ5X.
There have been reports that Toyota is reconsidering the bZ nomenclature for its EVs, leading to uncertainty about which of the two SUVs—the Highlander EV or bZ5X—will be the more premium one and how they will coexist. Toyota announced in May 2023 that its 2026 EVs will be built on three different platforms and the manufacturing process for EVs is undergoing a complete rethink. The Indiana EV is expected to be a “chassis-based” one sharing components with gasoline models, while the Kentucky EV might represent advancements in all of these areas. The Land Cruiser Se concept shown in October 2023 could be produced in Kentucky, followed by a smaller Highlander EV.
Toyota plans to launch 10 new EVs by 2026, targeting the United States and China, to reach a 1.5-million-EV “baseline.” The company will also be adding a new battery pack assembly to its battery facility in North Carolina to start production in 2025 for a range of electrified vehicles. The Indiana EV announcement is expected to create 340 new sustainable jobs in the United States. The Indiana plant already employs 7,500 workers and produces the Toyota Sienna hybrid minivan, Toyota Highlander and Grand Highlander SUVs, as well as the Lexus TX in standard, hybrid, and plug-in hybrid variants.
Toyota’s focus on electrified vehicles aligns with its plans to introduce 10 new EVs by 2026, including luxury, compact, and commercial vehicles. The Indiana EV announcement comes on the heels of a significant investment in the Kentucky plant to produce another three-row battery-electric SUV. Toyota’s decision to expand its electrified vehicle lineup and invest in sustainable manufacturing processes demonstrates its commitment to the future of mobility. The addition of new jobs in the United States further underscores Toyota’s dedication to supporting local communities and the growth of the electric vehicle industry.
Overall, Toyota’s recent announcement of a $1.4 billion investment in its Indiana plant to produce a new three-row battery-electric SUV, along with plans to launch 10 new EVs by 2026, signals the company’s commitment to electrification. The addition of a new battery pack assembly to its North Carolina facility and the creation of 340 new jobs in the United States further demonstrate Toyota’s efforts to expand its electrified vehicle lineup and support sustainable manufacturing practices. As the auto industry continues to evolve towards electric propulsion, Toyota is positioning itself as a leader in the development of environmentally-friendly vehicles for the future.
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