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Toyota announced an $803 million investment at its Princeton, Indiana auto-manufacturing plant is in preparation to introduce two, all-new yet-to-be-named vehicles to its current line-up, one being a Toyota and the second a Lexus. This investment and product diversification will also add approximately 1,400 new jobs at Toyota Indiana.
TMMI will focus on production of mid-size SUVs and minivans including the Toyota Highlander, Highlander Hybrid and the Toyota Sienna. TMMI will cease production of the Toyota Sequoia by 2022.
The $803 million investment will be used to prepare the manufacturing line for the new vehicles, production-employee training, as well as provide supplier re-tooling at their facilities. Since the first Tundra - the original Toyota Motor Manufacturing Indiana vehicle - rolled off the production line in 1998, Toyota’s total investment in the Princeton site is $6.6 billion. The plant has the capacity to assemble more than 420,000 vehicles annually.
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