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 facility will produce models like the Hilux EV, positioning Toyota to compete against a surge of affordable Chinese electric vehicles entering Latin America. Analysts suggest the move could strengthen Toyota’s regional presence amid rising demand for sustainable transportation. The approval follows Argentina’s push to attract foreign investment in green technology.
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.
