Toyota to Spend $803 Million in Indiana for ‘Electrified’ Models
(Bloomberg) -- Toyota Motor Corp. plans to spend $803 million to retool its factory in Indiana to produce two new “electrified” sport-utility vehicles, one of which will be sold by its luxury Lexus brand.
The investment paves the way to manufacture the three-row SUVs, and will create 1,400 new jobs at the plant in Princeton, Indiana, the Japanese automaker said Wednesday. Toyota didn’t specify the model names or type of engine or motor, but hinted they may be gas-electric hybrid or possibly fully electric powertrains.
“Both will join a diverse, electrified product portfolio and will help the company get another step closer to Toyota’s global aim towards carbon neutrality by 2050,” the company said in a statement.
Toyota also said the vehicles will offer a “semi-automated driving system” that allows for hands-free operation in some conditions.
Toyota’s Indiana facility employs more than 7,000 workers and makes the Highlander midsize SUV and Sienna minivan models.
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