On the Dash:
- Toyota will invest $792 million in its Czech plant to produce its first fully electric vehicle in Europe and add a battery facility.
- The expansion will create about 245 new jobs at the Kolin plant, which now employs 3,200 and makes the Aygo X and Yaris Hybrid.
- Toyota plans to launch nine fully electric models in Europe across the Toyota and Lexus brands between 2025 and 2026.
Toyota Motor announced it will invest $792 million (€680 million) in its Czech Republic plant to produce its first fully-electric vehicle in Europe on Wednesday. It will also expand the facility from 152,000 to 173,000 square meters to include new paint and welding shops and a dedicated battery assembly facility. The Czech government is contributing an additional $75 million (€64 million) to support the project.
The Kolin plant will be the first in Europe to produce battery electric vehicles (BEVs). Currently, the facility employs roughly 3,200 workers and produces the Toyota Aygo X and Yaris Hybrid models, with an annual output of approximately 220,000 vehicles. The expansion is expected to create about 245 new jobs.
Toyota has not disclosed production timelines or information about the specific model for the European EV launch. Earlier this year, the carmaker announced plans to launch nine fully electric models in Europe between 2025 and 2026 across the Toyota and Lexus brands.
Prime Minister Petr Fiala praised Toyota’s substantial investment during an official ceremony, saying, “The investment will not only expand the current production in Kolín, it also represents an important step in the direction of a higher technological level and keeping car manufacturing in our country.”
The automotive industry accounts for approximately 10% of the Czech Republic’s gross domestic product, and a significant investment from Toyota underscores the nation’s importance in shaping Europe’s electric vehicle future.
($1 = 0.8542 euros)
