Czech Republic to Host Toyota’s First European EV Plant

Toyota Motor Corp. has selected the Czech Republic for its inaugural fully electric vehicle production facility in Europe. The Japanese automaker will invest €680 million ($796 million) to expand its existing Kolin plant, which currently manufactures small cars for the European market. The expansion includes a new battery assembly facility, with the Czech government contributing €64 million in support.

The MOVE underscores Toyota's aggressive push into electric vehicles, with plans to launch nine fully electric models under its Toyota and Lexus brands by 2025-2026. The Czech auto industry, accounting for 10% of the country's GDP, stands to benefit significantly from this investment, sustaining manufacturing jobs and reinforcing the nation's role in Europe's automotive sector.

Prime Minister Petr Fiala hailed the decision as a vote of confidence in the Czech economy and a strategic step to maintain the country's automotive manufacturing strength. The Kolin plant's transformation into an EV hub marks a pivotal shift in Toyota's European strategy, aligning with broader industry trends toward electrification.