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 intensify their push into Latin America with affordable electric models, creating competition for established brands. The company’s upcoming Hilux EV is expected to play a key role in its strategy to meet rising demand for electric trucks and SUVs. With Argentina offering incentives for foreign investment in green technology, the plant could strengthen Toyota’s position amid shifting automotive trends.
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.
