KOLIN: Toyota will manufacture its first fully-electric vehicle model in Europe at its Czech Republic factory alongside a new battery assembly facility.
The Japanese automaker announced a 680 million euro investment to expand its Kolin plant without disclosing specific model details or production timing.
The Czech government will contribute up to 64 million euros toward the dedicated battery facility according to Toyota’s announcement.
Czech Prime Minister Petr Fiala described Toyota’s decision as crucial for maintaining automotive manufacturing within the country’s economy.
The automotive industry represents approximately 10% of Czech gross domestic product according to government statistics.
Toyota has maintained a more cautious approach toward electric vehicles compared to traditional rivals despite being the world’s largest automaker by sales.
This strategy has proven beneficial during the past year as global electric vehicle demand has slowed significantly.
The company continues to benefit from strong demand for its expanding hybrid vehicle lineup particularly in its largest market the United States.
Toyota previously announced plans to launch nine fully-electric models across Europe during 2025 and 2026 for both Toyota and Lexus brands.
The Kolin plant currently produces the Aygo X and Yaris Hybrid models with an annual production capacity of about 220,000 vehicles. – Reuters
