Toyota on Thursday announced plans to invest $1.4 billion in its plant in Princeton, Indiana, to support production of a three-row electric SUV.
The investment also covers production of battery packs at the site using lithium-ion batteries supplied by aThe latest investment announcement brings Toyota's total investments for U.S. production to $18.6 billion since 2021. it will be a Toyota-branded model larger than the three-row electric SUV Toyota plans to build at a plant in Georgetown, Kentucky.and has received its own $1.3 billion investment, will also be a Toyota-branded model. It will be a midsize offering to be called the bZ5X.
The Princeton plant currently builds three gas-powered three-row SUVs: the Highlander, Grand Highlander, and related Lexus TX. It also builds the Sienna minivan. The planned electric SUV is rumored to carry the Highlander nameplate. Lexus is also planning to launch a three-row electric SUV that may be built at the Georgetown or Princeton plants. The vehicle may be
, judging by recent trademark activity. Such a name would indicate the SUV is an electric alternative to the TX.
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