Asia Tech Wire (Apr 26) -- Toyota Motor announced on Thursday that the company will invest an additional $1.4 billion in its U.S. plant in Indiana.

The new investment announcement comes as the Japanese automaker prepares to assemble new three-row all-electric SUVs at its Indiana plant.

Toyota said the investment will create 340 new jobs.

In addition, the investment will add a new battery pack assembly line using lithium-ion batteries from Toyota's $13.9 billion battery manufacturing plant in North Carolina, which is due to go into production in 2025.

Toyota employs more than 63,000 people in North America, 7,500 of whom work at the Indiana plant. To date, Toyota has invested $8 billion in the plant.