Toyota plans to inject US$ 1.341 billion, equivalent to approximately R$ 7 billion, into Argentina to build a new plant dedicated to the production of electrified vehicles. This factory will be located in Zárate, adjacent to the industrial complex where the Hilux and SW4 models are currently manufactured.
The project received approval on Wednesday, the 30th, to integrate with RIGI (Incentive Regime for Large Investments), an Argentine government program that offers tax benefits. This investment is expected to give rise to the new electrified versions of the next-generation pickup truck.
The announcement was made by the Minister of Economy, Luis Caputo, who highlighted this contribution as the largest in the history of the Argentine automotive industry. Toyota becomes the first manufacturer to adhere to this regime. In an official statement, the company mentioned that the approval allows it to proceed with the final internal validation stage of the project, but limited itself to stating that the new line will manufacture 'an electrified vehicle,' without specifying the model.
Argentine press sources indicate that the new manufacturing unit will be responsible for producing the mild hybrid and fully electric variants of the ninth-generation Hilux, a model that will be presented globally at the end of 2025. The traditional diesel-powered models will continue to be produced at the existing facility, which has been operating since 1997.
The brand's most recent investment in the country occurred in 2013, when initial US$ 800 million were announced, which rose to about US$ 1 billion, intended for the manufacturing of the current generation of the pickup. It is estimated that about 70% of the volume produced at the new factory will be destined for export, generating a projected annual revenue of US$ 1.28 billion (approximately R$ 6.6 billion). Brazil is among the main destination markets, similar to what happens with the Hilux and SW4.
The project includes the creation of 3,600 jobs during the construction phase and 2,600 direct and indirect positions after operation, including the supplier network.
The new Toyota Hilux is expected to be introduced to the Brazilian market in early 2027, initially with the 2.8 turbodiesel engine, which has 204 hp and 50.9 kgfm of torque. The mild hybrid version, equipped with a 48V electrical system, is scheduled for launch in the second quarter. Production of the new SW4 version in Argentina is scheduled for March or April of the same year, although Toyota has not officially confirmed these dates.
The 100% electric version should begin production at the end of 2027, with arrival in Brazil expected in 2028. This model features two motors, one on each axle, offering a combined power of 196 hp and a torque of 20.9 kgfm on the front axle and 27.4 kgfm on the rear axle, in addition to permanent all-wheel drive. Its 59.2 kWh battery ensures an estimated range of 240 km under the European WLTP cycle. Additionally, it supports a load capacity of 715 kg and a towing capacity of 1,600 kg.