Toyota to invest $400m at Indiana plant for Highlander production
Toyota Motor (TMC) is planning to invest $400m at its Princeton, Indiana plant to build the Highlander hybrid sport-utility vehicle (SUV).
The automaker said that the production of the Highlander SUV including hybrid and export versions will be increased in late 2013 and will be shifted to the US from Japan.
The investment will help Toyota Motor Manufacturing Indiana (TMMI) increase its annual production capacity of Highlander by 50,000 units in the second half of 2013 and is expected to create about 400 new jobs.
However, TMMI will also start building the 'Highlander Hybrid' gasoline-electric hybrid SUV and increase production of gasoline-engine Highlander, which will be exported to Australia, Russia and othermarkets starting in the Q2 of 2013.
Toyota Motor Engineering & Manufacturing North America EVP Steve Angelo said this project allows for better utilization of the Indiana plant and will help the company capitalize on the improving North American and global auto market.
"In addition to new jobs at the Indiana plant, this project will increase opportunities and jobs for our North American supply base," Angelo said.
TMMI president Norm Bafunno said this project is part of the company's localization strategy to build vehicles where we sell them.
"This announcement is a vote of confidence from Toyota Motor Corporation in the abilities of our team members and this plant," Bafunno said.
TMMI currently employs 4,800 and manufactures the Highlander, Sequoia full-size SUV and Sienna minivan.
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