Toyota will invest $749 million in USA production, report says

Toyota will invest $749 million in USA production, report says

"One-third of Toyota vehicles built in North America are powered by engines produced right here", said Clark. "Long-term investments in West Virginia, by companies like Toyota, will continue to benefit out state's economy, communities, and her people", Senator Manchin said.

As Toyota announced a massive expansion at five locations across the country on Thursday - the largest of which is taking place in Huntsville - Trump tweeted out his congratulations. This donation is part of Toyota's focus on building the future workforce.

Japanese automaker Toyota on Thursday said it would invest $13 billion in its US operations by the year 2021, boosting its previous pledge for investments totaling $10 billion over the same period.

Toyota President Akio Toyoda will be in Washington Friday to deliver a speech in which he is expected to tout the new investments.

The investment that was being announced Thursday morning is valued at $111 million and means hiring 123 new employees, the officials said.

A $50 million expansion and equipment upgrade at a Bodine plant in Jackson, Tennessee, will add 13 jobs and produce engine blocks while doubling the capacity of hybrid transaxle cases and housings.

Toyota Motor Manufacturing Kentucky Inc. executives, local officials, and Gov. Matt Bevin got together for the announcement.

More news: Mueller 'Pitbull' Andrew Weissmann Leaving Russia Probe
More news: Is Lori Loughlin's Daughter Olivia Jade Getting Expelled For Bribery Case?
More news: Marvel's Shang-Chi Movie Hires Veteran Brie Larson Director Destin Daniel Cretton

The funding will lead to greater production of hybrid versions of the RAV4 and Lexus ES, with the production of the latter beginning in May at Toyota's Kentucky manufacturing plant.

Overall, the plant represents an investment of more than $7 billion dollars.

The company plans to begin increasing production in May, starting with the Lexus ES Hybrid.

Toyota also is spending $62 million to boost production at its Troy, Missouri, facility.

"In West Virginia, Toyota represents more than just good jobs".

"Today's exciting announcement shows Toyota's recognition and continued trust in the high-level skills and expertise of our fantastic team here in Kentucky", said Susan Elkington, president of Toyota's Kentucky facility.

"By boosting our U.S. manufacturing footprint, we can better serve our customers and dealers and position our manufacturing plants for future success with more domestic capacity".

Related Articles