Toyota has secured regulatory approval in Argentina to build a $1.3 billion electric vehicle manufacturing plant near Buenos Aires, marking a major expansion in the country’s automotive sector. The project comes as Chinese automakers intensify their presence in Latin America with affordable electric vehicles, creating competitive pressure for global manufacturers. Toyota’s focus on producing an electric version of its popular Hilux pickup could help it counter the influx of lower-priced alternatives from overseas. The approval paves the way for a potential boost in local EV production and job creation.
Toyota received Argentine approval for a $1.3 billion electric vehicle plant near Buenos Aires. The Hilux EV is a strong candidate as Chinese brands flood Latin America with low-cost EVs.
