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 move comes as Chinese automakers accelerate their push into Latin America with affordable electric models, creating competitive pressure for global brands. Toyota’s upcoming Hilux EV is seen as a key product to counter the influx of lower-priced Chinese alternatives. The project underscores Argentina’s efforts to attract foreign investment in green technology amid rising demand for sustainable transportation.
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.
