Hyperdrive
Toyota to Spend $803 Million in Indiana for ‘Electrified’ Models
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Toyota Motor Corp. plans to spend $803 million to retool its factory in Indiana to produce two new “electrified” sport-utility vehicles, one of which will be sold by its luxury Lexus brand.
The investment paves the way to manufacture the three-row SUVs, and will create 1,400 new jobs at the plant in Princeton, Indiana, the Japanese automaker said Wednesday. Toyota didn’t specify the model names or type of engine or motor, but hinted they may be gas-electric hybrid or possibly fully electric powertrains.