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 project comes as Chinese automakers accelerate their push into Latin America with affordable electric models, creating competition for established brands. With the Hilux EV already positioned as a key product for the facility, Toyota aims to strengthen its presence amid shifting consumer demand. The approval clears a critical hurdle for the plant’s development, though challenges in supply chains and local infrastructure remain.
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.
