Toyota last April announced an investment of $803 million to support production of two new SUVs at its plant in Princeton, Indiana—one for Toyota and the other for Lexus.

All Toyota said at the time was that the SUVs would be large, three-row models aimed at young, active families, and come with electrification and seating for up to eight.

Citing an anonymous source, Automotive News (subscription required) reported last week that the Toyota would arrive by mid-2023 and the Lexus about six months later. Given the timing, it's likely both SUVs will arrive for the 2024 model year.

The Toyota will reportedly be a long-wheelbase version of the Highlander, to be called a Grand Highlander. The Lexus will reportedly carry the new name TX. Both names have been filed for trademark protection with the United States Patent and Trademark Office.

2022 Toyota Highlander

2022 Toyota Highlander

The new SUVs will provide families seeking more space than what the existing Highlander and Lexus' stretched RX, the RX L (shown main), offer.

The plant where the new SUVs will be built, officially the Toyota Motor Manufacturing Indiana, is currently home to production of the Sienna minivan as well as the Highlander. It's possible the new Grand Highlander will be based on updated version of the current Highlander that's been on sale since the 2020 model year.

Interestingly, there are rumors Toyota also plans to expand its Crown sedan line sold overseas to include an SUV in 2023, and that this SUV will be sold in the U.S. It's possible the Crown SUV will be related to a new Lexus SUV to sit alongside the LS and LC in Lexus' flagship range (possibly as an LQ). The Lexus LF-1 Limitless concept from 2018 is thought to preview the new Lexus SUV.

Stay tuned for an update.