US Facilities · Autos / EVs
Toyota to invest $1.4 billion in Indiana to build a three-row electric SUV
- Company
- Toyota (Toyota City, Aichi)
- Project
- Toyota Indiana plant, Princeton, Indiana
- Value
- $1.4B
- Status
- Changed. In July 2025 Toyota moved assembly of its electric SUVs to Kentucky; the Indiana battery pack plant went ahead.
- Date
- 2024-04-25
Toyota said it will invest $1.4 billion in its Princeton, Indiana plant to prepare for assembly of an all-new three-row battery-electric SUV and add a battery pack line, creating up to 340 jobs. The packs will use cells from its North Carolina battery plant. The investment brings Toyota's total in the Indiana plant to $8 billion. In July 2025, Toyota said the electric SUVs would be assembled in Kentucky instead, while the Princeton battery pack plant stayed on schedule.
Why it matters
It was meant to be Toyota's second US-built electric SUV, alongside the Kentucky plan and the North Carolina battery plant. Its later move to Kentucky showed Toyota consolidating US EV assembly as demand slowed.
The plan
Toyota announced the investment on April 25, 2024 for its plant in Princeton, in Gibson County. The new jobs were due by the end of 2025, and Indiana offered up to $5 million in tax credits and up to $1 million in performance payments.
The switch to Kentucky
On July 11, 2025, Toyota said the electric SUVs would be built in Georgetown, Kentucky, which already had a three-row EV planned. Ground had been broken on the Princeton battery pack plant earlier in 2025. Toyota said that plant takes a large part of the $1.4 billion but did not say how much. It also planned a second Grand Highlander line in Princeton's east building.
The Indiana plant
Princeton builds the Grand Highlander, Highlander, Sienna and Lexus TX, and has more than 7,600 workers. In 2025 it built its one-millionth hybrid vehicle.
Sources
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