Toyota has announced the development of its first fully electric vehicle plant in Europe, selecting the Czech Republic as its location.
New Plant in the Czech Republic
Toyota has chosen the Czech Republic as the site for its first fully electric vehicle production in Europe. The model will be built at its Kolin plant, where small cars for the European market are already produced.
Investments and Government Support
The company is set to invest about €680 million, approximately $796 million, to expand the site, which will also include a new battery assembly facility. The Czech government will provide up to €64 million in support for the battery project.
Toyota's Strategy in the EV Industry
Toyota plans to launch nine fully electric models across Europe in 2025 and 2026 under its Toyota and Lexus brands. This decision aligns with the European Union’s tightening emissions regulations and strengthens the company's position in the European market.
Toyota's investment in the Czech Republic underscores the importance of the country in the European automotive landscape and demonstrates the company's readiness to expand its presence in the electric vehicle segment.
