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 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 sustainable vehicles in the region. With global automakers racing to establish production hubs in emerging markets, the project could reshape Argentina’s automotive industry.
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.
