To construct new battery-electric vehicles, Toyota plans to expand its Indiana plant

Princeton, Indiana – The Indiana government and the carmaker announced on Thursday that Toyota will invest $1.4 billion to build a new battery pack production line and a new battery electric vehicle assembly line at its Princeton location.

A news statement from the state administration lacked information about the new car.
According to the state government, Toyota anticipates using the investment to add up to 340 new employees by the end of 2025. At the southwest Indiana factory where the Toyota Sienna minivan, Highlander SUV, Grand Highlander SUV, and Lexus TX SUV are manufactured, Toyota already employs 7,500 people.

In 1996, Toyota began construction on a factory in Princeton.

According to a news release from the state government, Indiana Economic Development Corp. has committed to providing up to $1 million in conditional structured performance payments and up to $5 million in incentive-based tax credits, contingent on the company’s $632 million investment plans.
The Toyota factory is situated around midway between Fort Branch and Princeton. About 40 minutes can be spent driving north of Evansville’s downtown.

The suggested retail price of Toyota’s 2024 bZ4X is $43,070. Prior until this, Toyota Motor North America has listed 17 electrified cars, including the bZ4X battery-electric vehicle and 13 hybrid models.

According to Toyota, the news about Indiana coincided with plans to invest $1.3 billion in the Georgetown, Kentucky, plant to create a brand-new, independent three-row battery-electric SUV.

“Indiana and Toyota share a nearly 30-year partnership that has cultivated job stability and economic opportunity in Princeton and the surrounding Southwest Indiana region for decades. Toyota’s investment in the state began with an $800 million commitment and has grown to over $8 billion. Today’s incredible announcement shows yet again just how important our state’s business-friendly environment, focus on long-term success and access to a skilled workforce is to companies seeking to expand and be profitable far into the future. Indiana proudly looks forward to continuing to be at the center of the future of mobility,” said Indiana Gov. Eric Holcomb, a Republican.

“Our team members are the heart of Toyota. We take great pride in producing quality products while providing long-term, stable employment no matter the changes in our industry. Our team is committed to delivering this new product with the same quality and performance that Toyota customers expect,” said Tim Hollander, president of Toyota Indiana.