Toyota Motor’s Argentine subsidiary has received approval for its new electric vehicle production project under the Regime for Large Investments (RIGI). The investment is approximately $1.3 billion and is expected to be the largest in the history of Argentina’s automotive industry.
On 30 September, Toyota Argentina announced that its new electric vehicle production project had been approved under RIGI. It is the first RIGI-certified project in the automotive production sector and the first in which a Japanese company has been certified as the project operator.
The new business plans to produce electric vehicles at the company’s plant in Zárate, Buenos Aires Province, with an investment of approximately $1.3 billion. According to the announcement, this would be the largest investment in Argentina’s automotive industry to date, and the project was approved and certified by the government’s evaluation committee.
RIGI covers investments of more than $200 million in 8 sectors, including mining, energy, oil and natural gas, infrastructure and technology, and provides benefits for up to 30 years, including corporate tax reductions, tariff relief and exceptions to capital transaction regulations. The project is expected to qualify primarily as a technology project.
In amendments to the implementing rules in August 2026, the government clarified that the production of new products in the technology sector could qualify for RIGI even without constructing or expanding a plant. This amendment may also have supported the certification of the project. Economy Minister Caputo disclosed the investment amount as $1.341 billion and said that 70% of the vehicles produced were planned for export.