Toyota has announced that it will invest $600 million into its Princeton, Indiana factory responsible for producing the Highlander SUV.
In a press release, the automaker said that the investments will results in an additional 400 jobs at the plant and comes on the back of growing demand for the Highlander.
The funds will go towards modernizing the plant and include retooling and the installation of new equipment and “advanced technologies to make the plant more competitive.”
No exact timeline has been given for when the 400 new jobs will be added to the plant but Toyota says the modernization of the plant will start in the fall of 2019 and increase production of the Highlander by 4,000 units annually.
The $600 million investment comes shortly after Jim Lentz, the chief executive officer of Toyota Motor North America, told the press at the Detroit Auto Show that the brand would invest $10 billion into its U.S. operations over the coming five years to increase the competitiveness of all of its plants.
Speaking of the Indiana investments, president of Toyota Indiana, Millie Marshall said “The Highlander has been a great vehicle for our plant and we are excited to deliver even more of them to our loyal customers. This is a true testament to our team members and their dedication to producing quality vehicles.”
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