Toyota will spend $1.4 billion to build electric 3-row SUV in Indiana

US electric vehicle manufacturing got a bit of a boost today. Toyota has revealed that it is spending $1.4 billion to upgrade its factory in Princeton, Indiana, in order to assemble a new three-row electric SUV. That will add an extra 340 jobs to the factory, which currently employs more than 7,500 workers who assemble the Toyota Sienna minivan and the Toyota Highlander, Grand Highlander, and Lexus TX SUVs.

"Indiana and Toyota share a nearly 30-year partnership that has cultivated job stability and economic opportunity in Princeton and the surrounding southwest Indiana region for decades," said Governor Eric Holcomb.

"Toyota's investment in the state began with an $800 million commitment and has grown to over $8 billion. Today's incredible announcement shows yet again just how important our state’s business-friendly environment, focus on long-term success, and access to a skilled workforce is to companies seeking to expand and be profitable far into the future. Indiana proudly looks forward to continuing to be at the center of the future of mobility,” Holcomb said.