TM Toyota Motor Corp.

Toyota Motor will invest $1.341 billion to build a new production plant in Argentina, Economy Minister Luis Caputo announced Wednesday. The facility will manufacture a fully electric vehicle, with the project expected to generate approximately $1.28 billion in annual exports and create more than 2,600 jobs once it reaches full operation. The project was approved under Argentina’s Large Investment Incentive Regime (RIGI), a framework designed to attract major long-term investments. Caputo described the project as the largest investment in Argentina’s automotive industry to date, highlighting its expected contribution to manufacturing capacity, employment and exports. The new facility is expected to strengthen Toyota’s production footprint in Argentina while expanding the country’s role in the regional electric-vehicle supply chain. The investment also comes as automakers increase spending on EV manufacturing and seek to establish production bases closer to key export markets. $TM

$TM The Toyota Hilux EV is a possible candidate for production in a $1.3 billion electric vehicle investment the Japanese automaker is planning in Argentina