LatinNews Daily - 01 October 2026

*Argentina’s Economy Minister Luis Caputo has announced that Japanese car manufacturer Toyota will invest US$1.34bn under the government’s large investment incentive scheme (Rigi). Writing on social media, Caputo hailed this as the “largest investment in the history of Argentina’s automotive sector”. He said it will fund a new electric vehicle (EV) production facility in Zárate, Buenos Aires province, which is expected to create more than 3,600 direct and indirect jobs during the construction phase and 2,600 new jobs in the operations phase. National daily Clarín has described the inclusion of Toyota’s project in the Rigi scheme as “surprising”, given that the initiative has so far been mainly focused on incentivising investment in the energy and mining sectors rather than the automotive industry.