Toyota Motor has announced a $1.4 billion investment in its factory in Indiana, USA. They aim to start production of electric vehicles (EV) starting in 2026, expanding their North American capacity. Thanks to the investment, 340 new jobs can be created. Production of a new three-row electric SUV model begins at the plant. Currently, the Highlander SUV model, the Lexus TX luxury model and other models are being assembled here. Toyota previously announced last June that it plans to start production of an electric SUV at its factory in Kentucky by 2025.
The company intends to expand its offering in North America’s largest market by manufacturing different types of electric vehicles.
The new investment also includes the development of the plant infrastructure and the establishment of a new battery assembly line. In addition, Toyota will begin manufacturing lithium-ion batteries at a plant in North Carolina next year for the Indiana plant. According to a statement from Toyota, it has announced a total of $18.6 billion in new investments in its American manufacturing operations since 2021 to promote electrification.
Honda Motor is taking similar steps in Canada, investing about C$15 billion to strengthen its EV supply system and capacities to meet the growing market needs of North America. The EV factory and separate battery factory are planned to be built in Ontario.
The Ontario factory is expected to start operating in 2028, with a production capacity of 240,000 electric vehicles per year, and the battery factory will have a capacity of 36 GWh per year.
Honda has set itself the goal of making all its products and corporate activities carbon neutral by 2050.
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