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 region’s growing EV market. The project comes as Chinese automakers accelerate their push into Latin America with affordable electric models, creating competitive pressure for global brands. With the Hilux EV already positioned as a key offering, Toyota’s investment could strengthen its footprint in a market increasingly dominated by lower-cost imports. The approval clears a critical hurdle for the plant’s development, though challenges in supply chains and local infrastructure remain.
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.
