The auto industry is rebounding strongly from the impacts of the Covid-19 pandemic. Demand for new cars has been rising, and the future prospects of electric vehicles have many companies preparing for a ramp-up in overall production efforts. One company that seems to be making moves to address this is Toyota, which has announced a new massive investment plan into their Indiana manufacturing plant.
Last week the auto manufacturer stated that they would be investing over $800 million into their Toyota Manufacturing Indiana Plant located in Gibson County. The investment is to add two new electric vehicles to the production lines at the plant, which Toyota expects will create 1,400 new jobs by the end of 2023. These new lines will produce three-row SUVs for both the Toyota and Lexus brands, and the investment will also help support employee training and supplier re-tooling.
Leah Curry, the president of Toyota Motor Manufacturing Indiana, said that the investment shows that the company is confident in the facility and its employees. “We don’t make these decisions lightly… But also, you know, the investment amount and hiring 1,400 new team members take a lot of study and a lot of effort by many people to be able to make this type of investment in our future.” The Indiana plant recently launched the 2021 Sienna minivan, which Curry says let the company “see that our capability was there, our heart was there, our passion is there, and our workforce is up for the challenge.”
This new investment marks the third major expansion at the plant in the last four years. When combined with past investments in 2017 and 2020, Toyota has now invested over $2.1 billion into the plant, creating over 2,000 jobs in the process.