Toyota will invest $600 million and add 400 jobs at its assembly plant in Princeton, Indiana. The investment will modernize the plant and help meet the strong and growing demand for the Highlander midsize SUV.
According to the automaker, “the investment will be used for retooling, new equipment and advanced technologies to make the plant more competitive. The project is scheduled to begin in fall 2019 and will add 40,000 Highlanders annually.”
This expansion project is part of Toyota's localization strategy to build vehicles where they are sold. Jim Lentz, CEO, Toyota Motor North America, said the company would, "invest an additional $10 billion in the U.S. over the next five years. This investment will be used to make the existing plants even more competitive."
Toyota said its investment shows Toyota's commitment to continued United States investment. The Princeton, Indiana plant produced over 400,000 vehicles last year, the highest in its 20-year history. The third-generation Highlander made its debut at the Indiana plant in 2013 and has continually exceeded customer expectations.
"The Highlander has been a great vehicle for our plant and we are excited to deliver even more of them to our loyal customers," said Millie Marshall, President Toyota Indiana. "This is a true testament to our team members and their dedication to producing quality vehicles."