The Bull

Monday 25

March, 201912:26 AM



Toyota says to boost US investment to $13 bn over 5 years

Toyota says to boost US investment to $13 bn over 5 years

Toyota announced Thursday it will boost its planned US investment by $3 billion to $13 billion over five years to boost manufacturing in multiple states.

Share |

15.03.2019 09:20 AM

Toyota announced Thursday it will boost its planned US investment by $3 billion to $13 billion over five years to boost manufacturing in multiple states.

The Japanese automaker said part of that higher total is a $750 million injection in five states unveiled Thursday that will create 586 new jobs.

"These latest investments represent even more examples of our long-term commitment to build where we sell," said Jim Lentz, chief executive officer for Toyota Motor North America. 

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

The new investment announced Thursday is the initial amount for projects that include adding the Toyota RAV4 Hybrid, and a Lexus ES 300h hybrid to production at its Georgetown, Kentucky plant, according to the statement.

It also plans to expand engine capacity at its Huntsville, Alabama facility.

Toyota has 10 US manufacturing facilities and last year announced a $1.6 billion joint venture with Mazda to build a plant also in Huntsville that will eventually employ 4,000 workers.
Archive
Markets
Index: Points Change Percent

PLEASE SUPPORT OUR SPONSORS, AUSTRALIA'S LEADING BROKERS:



© Copyright TheBull.com.au. All rights reserved.