Toyota invests nearly $500 million to upgrade Indiana plant

Toyota Sequoia

Toyota confirmed today that it will be spending $467.2 million to upgrade its Indiana SUV assembly plant. The revamp is expected to be completed within the next three months according to spokesman Paul Nolasco, Automotive News reports.

Nolasco did not confirm the details of the revamp; however, Bloomberg reported that the retooling is being done to build the Highlander and Sequoia SUV on the same line. Toyota last year consolidated production of the Tundra pickup in Texas. It had been building the Tundra at the Indiana plant next to the Sequoia and Sienna minivan.

Separately, Toyota had no comment on a report that the company had entered talks with General Motors to buy the bankrupt automaker’s New United Motor Manufacturing Inc (NUMMI) stake.

It was reported last month that Toyota could supply General Motors with its Prius hybrid system to build a GM branded version of the Prius at NUMMI.

– By: Stephen Calogera