Introduction:
Toyota recently announced plans to expand its production of plug-in hybrid electric vehicles (PHEVs) in the U.S. market, along with the potential introduction of an electric Toyota Highlander. This move is part of a larger investment of $1.4 billion in the Princeton, Indiana plant where the current Highlander, Grand Highlander, Sienna minivan, and Lexus TX are built. The investment will also include the assembly of an electric vehicle and a battery pack line. These developments are expected to have a significant impact on Toyota’s electric vehicle lineup in the coming years.
The $1.4 billion investment in the Toyota Motor Manufacturing Indiana (TMMI) plant includes plans for the assembly of an electric vehicle on the same line that currently produces the Sienna and Highlander models. The electric vehicle is set to be chassis-based, signaling a departure from traditional skateboard architecture. Additionally, a new battery pack assembly line will be established to produce cells sourced from the Toyota Battery Manufacturing North Carolina joint venture with Panasonic.
Toyota’s investment in the TMMI plant signifies a strategic shift towards electrification in the company’s lineup. While the new electric vehicle does not yet have a confirmed nameplate or release date, it is expected to pave the way for other electric models, including a potential Lexus TZ variant. This move aligns with Toyota’s long-term goal of increasing the availability of electric vehicles in the market.
As part of the investment, TMMI will welcome 340 new employees to its workforce, adding to the existing team of over 7,500 workers. This expansion reflects Toyota’s commitment to scaling up production capacity to meet the growing demand for electric vehicles. The plant currently has the capacity to produce more than 420,000 vehicles per year, and the addition of new employees will further enhance its capabilities.
In addition to the developments at the TMMI plant, Toyota is also gearing up to produce a new electric vehicle at its Georgetown, Kentucky plant (TMMK). This vehicle, known as the bZ5X, is a three-row EV SUV that will complement the offerings from the TMMI plant. The Georgetown plant will also produce its own battery packs, sourced from a new LG Energy Systems plant in Holland, Michigan.
Toyota’s substantial investment in expanding its electric vehicle production capabilities in the U.S. market is expected to have a significant impact on the electric vehicle market as a whole. With plans to introduce new electric models and increase production capacity, Toyota is positioning itself as a major player in the electrification trend. This move also underscores the company’s commitment to sustainability and innovation in the automotive industry.