Toyota Motor Corp. announced yesterday a $1.4 billion investment in its Princeton facility in Indiana to prepare for the assembly of a three-row electric SUV. This brings Toyota’s total investment in Indiana to $8 billion and will create 340 new jobs. In addition to building new vehicles, the plant will add a new battery pack assembly line using lithium-ion batteries supplied by the carmaker’s battery manufacturing plant in North Carolina. Earlier in the day, Toyota reported record-high global sales and production for the year ended March 31, supported by robust demand and the absence of semiconductor supply constraints that had impacted production in recent years.
