Toyota announces $792 million EV investment in Czech Republic
Japanese carmaker Toyota said on Wednesday it will invest 680 million euros ($792 million) on a new production line in the Czech Republic to make a battery electric car.
The line will be built with a government incentive of up to 64 million euros ($75 million) to expand Toyota’s existing plant in Kolin, around 50 kilometers (31 miles) east of Prague, the Czech government and the company said in a joint statement.
It will become the first Toyota plant to produce battery electric cars in Europe.
Prime Minister Petr Fiala said the new line will create another 245 jobs at the factory that already employs 3,200 people.
Toyota did not disclose details of when production would start or of the model.
The world’s top automaker currently makes Aygo X and Yaris Hybrid models at the plant, which made over 225,000 cars last year.
—Associated Press
Originally published by fastcompany.com. Syndicated material does not necessarily reflect the views of Grazia British.
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