Toyota Makes $1.4 Billion Investment in Princeton Plant for an All-New Battery Electric Vehicle

Toyota will invest $1.4B in its Princeton manufacturing plant to produce an all-new BEV, or Battery Electric Vehicle.

The company says its investment will not only provide plant infrastructure to build the all-new three row BEV, but it will also add a new battery pack assembly line using lithium-ion batteries supplied by Toyota Battery Manufacturing North Carolina.

Toyota’s investment brings its total investment in Toyota Indiana to $8B.

The automaker says it will also bring the addition of up to 340 new, high-quality jobs with long-term stability.

Toyota’s Indiana facility is home to more than 7,500 team members who assemble the Toyota Sienna, Highlander, Grand Highlander, and the Lexus TX.