PRINCETON, IN—Toyota is investing $803 million to produce two new electric vehicle models at its assembly plant here. The project is expected to create approximately 1,400 new jobs by the end of 2023.
“Over the past 20 years, Toyota has led the way with more electrified vehicles on the road than all automakers combined,” says Ted Ogawa, president and CEO of Toyota Motor North America. “This investment and new vehicle line-up will only allow us to continue our work with electrification, expand our portfolio to around 70 models globally by 2025, and meet the needs of our customers while allowing us to accelerate toward a net-zero carbon future.”