On Thursday, Governor Holcomb announced that Toyota will be investing a whopping $1.4 billion in its Princeton facility to assemble an all-new battery electric vehicle. This investment further solidifies Indiana's position as a leader in the automotive industry and promises significant economic benefits for our community.
This investment marks a significant milestone in Toyota's nearly 30-year partnership with Indiana. From an initial commitment of $800 million, Toyota's total investment in the state has now reached an impressive $8 billion. This announcement not only underscores the state's business-friendly environment but also highlights the importance of a skilled workforce in driving long-term success for companies like Toyota.
The investment will pave the way for the production of a new battery electric SUV at the Toyota Indiana facility, creating up to 340 new jobs by the end of 2025.
This announcement is part of Toyota's broader efforts to increase electrification in the U.S. and marks the third major expansion at the Princeton facility in four years. Through initiatives like the READI program, Toyota is not only investing in its operations but also in community projects aimed at enhancing the quality of life for residents in southwest Indiana.
