Toyota ups USA investment to $13 billion

Roman Schwartz
March 15, 2019

The investment is part of the company's $13 billion investment aimed at expanding operations at its USA plants in West Virginia, Kentucky, Alabama, Missouri and Tennessee by 2021, creating almost 600 new jobs.

The investment that was being announced Thursday morning is valued at $111 million and means hiring 123 new employees, the officials said. The plant will add 450 jobs to accommodate new four-cylinder and V6 engine production lines.

The $288 million investment is going to drive up production 35%, increasing the plant's annual engine capacity from 670,000 to 900,000 by the end of 2021.

"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.

Toyota Motor Corp said on Thursday it will invest $749 million in five US plants and add 586 jobs as it boosts engine production capacity and adds new hybrid models to its lineup.

RAV4 Hybrid production will start in January 2020 with an average capacity of 100,000 units.

The plant will also roll out two new engine lines.

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"They deserve to know if they're a security threat", he said.

"West Virginia is a great place, and we can grow business in West Virginia and we're just really proud of what they're doing", Justice said. This is a $3 billion increase from their 2017 announcement when they pledged to invest $10 billion.

The new investments are at facilities in Alabama, Kentucky, Missouri, Tennessee and West Virginia. The jobs are not coming to the WSAZ region, but the company is investing $238 million in the Georgetown plant.

Toyota and Mazda also are building an auto manufacturing plant in eastern Limestone County that is expected to employ up to 4,000 workers.

The automaker is spreading the additional investments among several plants.

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. $500 thousand of that will go directly to Huntsville and Decatur through the "Alabama Network of Family Resources Centers". Instead, it reflects Toyota's plan to build multiple vehicles at its plants to better insulate each facility from downturns in market cycles.

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