Toyota to build $1.3bn EV plant in Argentina
· Automotive & EV · Argentina
Toyota received Argentine approval for a $1.3 billion electric vehicle plant near Buenos Aires. The Hilux EV is seen as a strong candidate for the site as Chinese brands push low-cost EVs into Latin America.
Why it matters：The investment plants Toyota's manufacturing inside a fast-growing EV region to blunt Chinese brands' price-led expansion, and could push rivals to localise output in Latin America.
Key points
- Toyota received Argentine government approval for the plant near Buenos Aires.
- The Hilux EV is considered a strong candidate to be built there.
- Chinese brands have been flooding Latin America with low-cost EVs.