(Reuters) - Toyota Motor (NYSE:TM) Corp said on Thursday it would invest $1.4 billion in its Princeton facility in Indiana to prepare for assembly of a three-row battery electric SUV.
This brings up Toyota's total investment in Indiana to $8 billion and adds up to 340 new jobs at the Japanese automaker.
The latest investment comes after the company had said in February it would invest $1.3 billion at its Kentucky facility for electrification efforts, including assembly of a new, three-row battery electric SUV for the U.S. market.
Toyota's Indiana facility is home to more than 7,500 team members who assemble its popular models such as Sienna vans, Highlander, Grand Highlander and the Lexus TX.
Apart from building new vehicles, the plant is supposed to add a new battery pack assembly line using lithium-ion batteries, supplied by the carmaker's battery manufacturing plant in North Carolina.
Toyota earlier in the day said its global sales and production hit record highs in the year ended March 31, supported by robust demand and the absence of semiconductor supply constraints it had to endure in recent years.