Toyota ups investment in US plants to $13 billion, adds 600 manufacturing jobs


Japanese automaker Toyota is upping its investment in the US by 30 percent to $13 billion by 2021, the company said Thursday.

The company pledged in 2017 to invest $10 billion in its U.S. factories over five years.

The new plan includes adding 600 jobs at U.S. manufacturing plants, the company said. It said it plans to increase production capacity and renovate factories in Huntsville, Alabama; Buffalo, West Virginia; Troy, Missouri; and Jackson, Tennessee.

Part of the plan includes ramping up production of fuel-efficient vehicles. Toyota said it will produce hybrid versions of the RAV4 crossover and Lexus ES luxury sedan in Kentucky for the first time.

This is a breaking news story. Please check back for updates.

Products You May Like

Articles You May Like

Russian hackers are targeting European governments ahead of May election, cybersecurity firm says
Money woes force more couples to put marriage on the back burner
Stocks making the biggest moves midday: Tiffany, Nike, Avon Products & more
The one thing no one tells you about investing in a Roth IRA
Deutsche Bank top management gets bonuses for first time in four years

Leave a Reply

Your email address will not be published. Required fields are marked *