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 rapidly increase their presence in Latin America with affordable electric models, creating competitive pressure for global brands. Toyota’s planned production of an electric version of its popular Hilux pickup could help it counter this trend while tapping into Argentina’s automotive industry. The approval clears a key hurdle for the plant’s development, though challenges in securing local supply chains and labor 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.
