Toyota, the world’s largest automaker, has announced a $1.4 billion expansion of its factory in the U.S. state of Indiana to produce electric vehicles (EVs) starting in 2026. With the new expansion, Toyota Motor Manufacturing Indiana will become the company’s second EV production facility in the United States.
According to Nikkei Asia, the investment will create 340 new high-quality jobs and increase the company’s total number of employees in Indiana to around 8,000. The expansion also raises
Toyota’s total investment in the state to $8 billion, Green Car Congress reported.
Toyota’s decision to increase EV production comes amid a surge in demand for its hybrid models, said CBT News.
In April, Toyota reported record annual sales for the fiscal year ending in March, surpassing the 10 million-unit mark for the first time. Its hybrid models have played a major role in growing the company’s market share over the past year.
Toyota’s only other EV factory in the United States is in Kentucky. The facility Georgetown is due to begin operations next year.
“Since 2021, Toyota has announced new investments totaling $18.6 billion into its U.S. manufacturing operations to support electrification efforts,” the company said.
