Toyota Motor Corporation has disclosed plans to invest approximately ¥210 billion to produce electric vehicles in Argentina. The investment amount was announced together with the Argentine government's certification of eligibility under RIGI and is expected to be the company's largest investment in the country.
Toyota Motor Corporation has disclosed plans to invest approximately ¥210 billion, equivalent to US$1.34 billion, in a project to produce electric vehicles in Argentina. The disclosed amount has been reported by local media.
Luis Caputo, Argentina's Minister of Economy, posted the information on X, and reports said the investment is expected to be among the largest ever in the country's automotive industry.
Toyota Motor Corporation's Argentine subsidiary announced that its electric vehicle production project had been certified as eligible for the Large Investment Incentive Program (RIGI).