Toyota commits $1.34 billion to launch Argentina electric-vehicle factory

Toyota Motor disclosed a $1.34 billion plan to develop a fully electrified vehicle manufacturing line in Zarate, Buenos Aires province, following clearance from the RIGI investment incentive committee. The venture aims to deliver $1.28 billion in annual exports, with about 70% of its production destined for foreign markets. Over 3,600 construction jobs are projected, while the operational phase will support more than 2,600 direct and indirect roles.

The new facility expands Toyota's Argentine footprint, which has housed a plant since 1997 that currently builds the Hilux pickup, SW4 SUV and the Hiace van introduced in 2024. The move reflects a broader trend of automakers increasing capital in Latin America amid rising competition from Chinese imports. Renault recently announced a fully electric pickup to be assembled at its Córdoba plant, underscoring the region's shifting automotive landscape.