Toyota Invest $803 Million To Expand Facility In Southwest Indiana
Toyota is investing $803 million to further expand its facility in southwest Indiana. This is the most recent major investment the Japanese automaker has made over the last few years.
The money will go to add production of two new SUVs at the facility and hire an additional 1,400 workers. The new automobiles are a part of the company’s electric vehicle plans. One will be under the Toyota brand and the other will be a part of the Lexus line – a first for the facility in Princeton.
Toyota Motor Manufacturing, Indiana (TMMI) President Leah Curry said the plant has proven it can take on the global automaker’s long-term environmental goal.
“These new vehicles will join a diverse electrified portfolio which includes hybrids as well as plug-in battery electrics, hydrogen fuel cells,” said Curry. “All which will help Toyota get another step closer to our global aim of carbon neutrality by 2050.”
Gov. Eric Holcomb said the plant has come a long way after starting almost 25 years ago in a cornfield and expanding over time.
“We are the single largest Japanese investment state in America, per capita,” said Holcomb. “And it's because of days like today that keep us in that pole position.”
This is the third major investment the company has made in the last four years in the TMMI plant.
The Wednesday morning announcement comes at a time when automakers across the country have had to temporarily idle facilities, including some in Indiana, due to a chip shortage needed to make the vehicles.
The company plans to start producing the two new vehicles in mid- to late-2023.
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