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Released May 02, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) said last week it plans to invest $1.4 billion to upgrade an assembly plant in Indiana for the production of an all-new electric vehicle (EV). Industrial Info is tracking nearly $16 billion worth of projects from Toyota in the U.S., with most of the spend attributed to EV-related projects.
Toyota's upgrade of its truck and SUV assembly plant in Princeton, Indiana will allow the automaker to produce an all-new, unnamed EV, the company said in an April 25 press release. Toyota did not announce a planned kickoff or completion date for the project, but Industrial Info is tracking a tentative kickoff date of January 2025. Toyota said the facility is home to more than 7,500 employees that assemble the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX models. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project and Plant databases can read more in a detailed project report and plant profile.
The project also entails adding a battery pack assembly line using batteries supplied by a grassroot EV battery plant in Liberty, North Carolina, also known as Toyota Battery Manufacturing North Carolina (TBMNC), construction of which has been underway since 2022.
The 490,000-square-foot facility will feature four production lines with the ability to produce up to 200,000 batteries per line, in order to manufacture 800,000 hybrid and EV lithium-ion battery packs per year, with the ability to ramp up to 1.2 million battery packs per year. Toyota expects production will begin in 2025. Subscribers can click here to read the project report.
According to the press release, since 2021, the automaker has announced new investments totaling $18.6 billion into its U.S. manufacturing operations "to support electrification efforts."
Toyota is developing two other projects at the planned North Carolina plant, although Industrial Info's researchers have assessed them both as having a medium probability (70-80%) of moving forward as planned. A potential expansion, which could begin construction following completion of the grassroot project, entails constructing a building addition and installing two production lines to ramp up the output of lithium-ion batteries. Meanwhile, a planned equipment addition would allow for the production of batteries for plug-in hybrid vehicles. Subscribers can read more information on the expansion and equipment addition projects.
The automaker also has announced it plans to invest $1.3 billion to upgrade its 8.1 million-square-foot vehicle assembly and engines plant in Georgetown, Kentucky, which is the company's largest production facility in the world, to build an all-new three-row electric SUV that would be sold in the U.S. Toyota has not yet announced a planned kickoff or completion date for the project, but Industrial Info is tracking a tentative kickoff date of January 2025. That builds on a $500 million project under construction that entails upgrading equipment to convert the facility to EV production. Subscribers can click here for the related project reports.
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Click here for a full list of active Toyota projects in the U.S.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Toyota's upgrade of its truck and SUV assembly plant in Princeton, Indiana will allow the automaker to produce an all-new, unnamed EV, the company said in an April 25 press release. Toyota did not announce a planned kickoff or completion date for the project, but Industrial Info is tracking a tentative kickoff date of January 2025. Toyota said the facility is home to more than 7,500 employees that assemble the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX models. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project and Plant databases can read more in a detailed project report and plant profile.
The project also entails adding a battery pack assembly line using batteries supplied by a grassroot EV battery plant in Liberty, North Carolina, also known as Toyota Battery Manufacturing North Carolina (TBMNC), construction of which has been underway since 2022.
The 490,000-square-foot facility will feature four production lines with the ability to produce up to 200,000 batteries per line, in order to manufacture 800,000 hybrid and EV lithium-ion battery packs per year, with the ability to ramp up to 1.2 million battery packs per year. Toyota expects production will begin in 2025. Subscribers can click here to read the project report.
According to the press release, since 2021, the automaker has announced new investments totaling $18.6 billion into its U.S. manufacturing operations "to support electrification efforts."
Toyota is developing two other projects at the planned North Carolina plant, although Industrial Info's researchers have assessed them both as having a medium probability (70-80%) of moving forward as planned. A potential expansion, which could begin construction following completion of the grassroot project, entails constructing a building addition and installing two production lines to ramp up the output of lithium-ion batteries. Meanwhile, a planned equipment addition would allow for the production of batteries for plug-in hybrid vehicles. Subscribers can read more information on the expansion and equipment addition projects.
The automaker also has announced it plans to invest $1.3 billion to upgrade its 8.1 million-square-foot vehicle assembly and engines plant in Georgetown, Kentucky, which is the company's largest production facility in the world, to build an all-new three-row electric SUV that would be sold in the U.S. Toyota has not yet announced a planned kickoff or completion date for the project, but Industrial Info is tracking a tentative kickoff date of January 2025. That builds on a $500 million project under construction that entails upgrading equipment to convert the facility to EV production. Subscribers can click here for the related project reports.
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Click here for a full list of active Toyota projects in the U.S.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
