Toyota's investment will create an additional 200 jobs and increase the factory's volume by 15,000 units. Toyota announced an investment in the plant in February of 2012 that bumped volume up from 300,000 to 350,000 units. Toyota Motor Manufacturing Indiana, as the Princeton facility is officially known, produces the recently revised Toyota Highlander, the Sequoia and the Sienna. It employs 4,500 people, and this announcement represents Toyota's tenth production increase in under two years.
Scroll down below for the official announcement.
Highlander Production to Be Boosted
Exports Begin This Fall
ERLANGER, Ky. (July 26, 2013) –As consumer demand for Toyota's Highlander continues to grow, the company's Princeton, Ind., plant is planning to grow with it. Toyota announced today it will increase production of the Highlander mid-size SUV in late 2014 with a $30 million investment in Princeton.
The project will create more than 200 new jobs at Toyota Motor Manufacturing Indiana, Inc. (TMMI), with new team members helping to increase production volume by 15,000 units. This expansion raises total employment to approximately 4,700 and total plant investment to more than $4.2 billion.
Today's announcement is Toyota's 10th production increase announcement in the past 20 months including Toyota plants in Huntsville, Ala., Buffalo, W. Va., Georgetown, Ky., and Ontario, Canada. Cumulative investment total is approximately $2 billion, adding more than 4,000 jobs.
"This capacity increaseis to meet growing demand for the Highlander and is a part of our strategy to build vehicles where we sell them," said TMMI President Norm Bafunno. "We appreciate our loyal customers who value the quality products our dedicated team members build in Princeton, and we're excited to build even more Highlanders."
Toyota's Indiana plant builds a gas version of the popular Highlander and will begin producing the hybrid version before year-end. The new production volume added will be the gas model version. Soon, Highlanders born in Indiana will find new homes with drivers in Russia and Australia as TMMI is set to begin exporting to those countries later this year.
TMMI currently employs 4,500 team members and builds the Highlander, Sequoia full-size SUV and Sienna minivan. Current production capacity is 300,000 vehicles and will increase to 350,000 later this year as announced in February 2012. Today's news raises TMMI's annual capacity to 365,000 vehicles by late 2014.