Toyota invest $1.4 billion to bolster EV output in U.S.

TOKYO -- Toyota Motor announced Friday that it will invest $1.4 billion to start production of electric vehicles at its factory in the U.S. state of Indiana in 2026, increasing its EV capacity in North America.

Toyota Motor Manufacturing, Indiana, which has more than 7,500 employees, will become the Japanese auto maker's second EV plant in the U.S. According to a company disclosure, the investment "brings the addition of up to 340 new, high-quality jobs."