Toyota finishes $1.3 billion modernization project in Indiana factory

Toyota Motor stated on Friday it spent an additional $700 million and added 150 new jobs to finish a $1.3 billion modernization program at its Princeton, Indiana factory.

The investment is part of a broader plan from the automaker to invest $13 billion in its U.S. operations for five years through 2021.

Along with $1.3 billion investment at the Toyota Motor Manufacturing Indiana (TMMI) plant, the automaker has so far invested about $7.1 billion of the total amount, it stated.

The refurbished TMMI plant, which has added 550 new jobs until now, will help Toyota meet strong demand for the Highlander, it’s recent mid-size SUV.

The plant has more than 7,000 workers and has the capacity to assemble more than 420,000 vehicles yearly basis, the company stated.