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 EV production capacity. The move comes as Chinese automakers accelerate their push into Latin America with affordable electric models, intensifying competition in the growing market. With the Hilux EV identified as a potential flagship product, the facility could help Toyota strengthen its position amid shifting consumer demand. The development underscores Argentina’s role as a key hub for automotive innovation in South America.
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.
