Toyota to invest $1.3B in new EV production in Argentina

Toyota Argentina won approval to join Argentina's RIGI incentive regime and will build a new electric vehicle at its Zárate plant near Buenos Aires. The roughly $1.3 billion project is the largest investment in the country's auto industry, with the Hilux BEV a likely candidate for production.

• Investment of about $1.3 billion is Argentina's largest auto-industry project
• About 3,600 jobs during construction, 2,600 after upgrades
• Around 70% of output for export, worth about $1.28 billion a year
• Hilux BEV, currently built in Thailand, is a likely candidate